The Highest and Lowest Petrol Prices in the World
There has been recently another periodical price rise in the cost of both petrol and diesel in the country. We are by now used to the prices going up by rupees and occasionally coming down by a few paise per litre. It would be interesting to try and find out the countries where the petrol costs the highest and where it costs the lowest. A search on the internet has given the following results for thye year 2012. Any variation with actual prevailing prices will be marginal but it is the trend that is important.
The highest price of petrol prevails in Norway at Rs 143 per litre (L). The second highest price is in Turkey at Rs 141 per L followed by Holland at Rs 129 per L. In Italy, Greece and Denmark it is Rs 127, 126 and Rs125 per L resp. The price is Rs 124 per L in UK. In both Eriteria and Sweden it is priced at Rs 123 per L.The tenth costliest petrol is priced Rs 122 per L in Belgium.
Inspite of paying the highest price for petrol in the world the average Norwegian spends only around 7.4% of his/her monthly income on petrol. Whereas the average Eriterian ends up spending nearly 61% of his income on petrol. However the average Turk spends 34% compared to 16% by an average Italian.
The ten lowest prices of petrol will make us weep. The lowest price of petrol in the world is in Venezuela at an unbelievable Rs 1.74 per L. Predictably the second lowest price is in Saudi Arabia at Rs 6.97 per L. Libya charges Rs 7.84 per L while Turkeministan charges Rs 10.45 per L. In the island state of Bahrain it is Rs 11.32 per L followed by Kuwait at Rs 12.20 per L. The price in Qatar is Rs 13.15 followed by Egypt at Rs 16.55 per L. In Oman and Algeria it is priced at Rs 17.50 per L. It would be wonderful to go on long drives in these countries with no worry on petrol cost.
We in India can draw solace that the price is cheaper than say Belgium and can only sigh at the price in Algeria or Oman. We can draw some consolation that it is around Rs 110 per L in Pakistan.
Will the prices ever come down to say Rs 50 levels. Looks impossible today. With the rupee depreciating against the dollar on an annual basis and with widening current account deficit the chances are very less that the rupee will appreciate to lower the petrol price.
All we can do is grin it and bear it and keep driving.
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