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Indians pay the highest for petrol, diesel!

Last updated on: October 25, 2011 11:23 IST

A worker (R) fills plastic containers with petrol at a pump in Kolkata.

Petrol in India is costlier than 98 countries while diesel is more expensive in India than 136 other countries.

Petrol costs less than a dollar in the OPEC region and USA, in Russia, Japan, China, it is priced between $1-2 based on PPP calculation, where differences in purchasing powers across countries are evened out, according to a report in The Economic Times.

In economics, purchasing power parity (PPP) is a condition between countries where an amount of money has the same purchasing power in different countries. The prices of the goods between the countries would only reflect the exchange rates.

In September, state-owned oil companies hiked petrol prices by Rs 3.14 per litre, the third hike this year.

Petrol prices were freed from the government control in June last year.

Petrol: $3.95
Diesel: $2.46
(Prices per litre PPP $)

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Indians pay the highest for petrol, diesel!

Last updated on: October 25, 2011 11:23 IST

A worker puts petrol into a portable generator at a construction site in Beijing.

China

While India saw a spate of price hikes, China cut fuel prices in a bid to control inflation.

The wholesale gasoline prices and diesel prices were cut by 300 yuan.

Petrol: $1.95
Diesel: $1.83

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