Due to rising crude oil prices internationally, petrol prices in India have crossed Rs 100 per liter for the first time. On Wednesday, petrol climbed 25 paise per liter to Rs 89.54 in Delhi. At the same time, the price of one liter of diesel increased by 25 paise to Rs 79.95 per liter. In Bhopal, the capital of Madhya Pradesh, the price of Extra Premium Petrol has been increased to Rs 100.44 per liter. Amidst all these, you will be surprised to know that there are many countries in the world where petrol prices are below Rs 10 per liter.
Let’s know where the cheapest petrol is being sold in the world…
(10) Nigeria – Petrol price Rs 31.61 per liter
According to Global Price.com, Nigeria is at number 10 in this list.
(9) Turkmenistan – Petrol price Rs 31.13 per liter
Number nine in this list is ninth. Nigeria supplied 71.7 lakh tonnes of crude to India in the year 2020 from April to August.
(8) Qatar-Petrol price Rs. 29.95 per liter
Qatar has the eighth number in this list.
(7) Kazakhstan – Petrol price Rs 29.70 per liter
Kazakhstan is number seven on this list.
(6) Sudan-Petrol price Rs 27.52 per liter
Sudan’s number six in this list.
(5) Kuwait – Petrol price Rs 25.25 per liter
Kuwait has the fifth number in this list.
(4) Algeria petrol price Rs 25.15 per liter
The number of Algeria is fourth in this list.
(3) Angola petrol price Rs 17.82 per liter
Angola is third in this list.
(2) Iran petrol price Rs 4.49 per liter
Angola is second in this list.
(1) Venezuela Petrol Price Rs 1.5 per liter
The cheapest petrol in the world is being sold in Venezuela.
Crude oil prices may rise further
According to the US Energy Information Administration (EIA), by the first half of June of 2021, Brent crude prices could go up to $ 60 per barrel.
A recent report by the EIA states that the Organization of Petroleum Exporting Countries (OPEC) and allied countries (OPEC Plus) may limit oil production under partnerships. Saudi Arabia has announced that it will cut oil production by one million barrels per day in February and March.
Despite this cut, the EIA estimates that OPEC will produce more oil this time than last year and 272 million barrels per day in 2021 this year, compared to an average of 25.6 million barrels per day in 2020.
Why is petrol so expensive in India?
Experts say that petrol is so expensive because the tax is high on it. Talking about the breakup of one liter of petrol, its base price is Rs 28.13 and the cost of rent etc. is Rs 0.37 i.e. the price of petrol is Rs 28.5.
After this, dealers have to pay excise duty of Rs 32.98 and VAT of Rs 19.55 (also includes VAT on dealer commission).
The average commission of the dealer was Rs 3.67. Adding to all this, the price of petrol was Rs 84.70 per liter on 16 January 2021.
In this way, a tax of Rs 52.53 was levied on one liter of petrol i.e. 62 per cent. Oil prices may vary from state to state as it attracts local sales tax or VAT (Value Added Tax). Apart from this, excise duty is also imposed on it which is a central levy.