rediff.com
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff News  All News 
Rediff.com  » Business » Indians pay the highest for petrol, diesel!

Indians pay the highest for petrol, diesel!

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

Indians pay the highest for petrol, diesel!

     Next

Next

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 $)

Click NEXT to find out how petrol price on PPP varies across the world...


Image: A worker (R) fills plastic containers with petrol at a pump in Kolkata.
Photographs: Parth Sanyal/Reuters.
     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

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

Click NEXT to read more...



Image: A worker puts petrol into a portable generator at a construction site in Beijing.
Photographs: Claro Cortes/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

United Kingdom

The UK has the eleventh highest petrol price in Europe.

Petrol: $1.85
Diesel: $1.91

Click NEXT to read more...

 



Image: A motorist fills the gas tank of his car at a petrol station in Phnom Penh.
Photographs: Chor Sokunthea/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

Brazil

Fuel prices continue to rise in Brazil increasing inflation.

Petrol: $1.70
Diesel: $1.23

Click NEXT to read more...



Image: A man works at Sao Tome's ethanol distillatory in the southern Brazilian state of Parana.
Photographs: Paulo Whitaker/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

Japan

Japan lacks significant domestic sources of fossil fuel and imports crude oil and natural gas.

Petrol: $1.28
Diesel: $1.09

Click NEXT to read more...



Image: A petrol station employee cleans a fuel pump as he waits for customers in Manila.
Photographs: Cheryl Ravelo/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

Russia

Russia has the world's largest natural gas reserves and the eighth largest crude oil reserves.

Petrol: $1.26
Diesel: $1.08

Click NEXT to read more...



Image: A car stands at the petrol station of the Russia's oil major Yukos.
Photographs: Alexander Natruskin/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

United States

United States has proven oil reserves of 20.68 billion bbl as of January 2011.

Petrol: $0.76
Diesel: $0.84

Click NEXT to read more...


Image: A woman stands at a petrol pump at a Chevron gasoline station in Los Angeles.
Photographs: Fred Prouser/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     Next
Prev

Next

South Africa

South Africa's petrol prices in the main inland commercial region will increased by up to 37 cents in October.

Petrol: $0.23
Diesel: $0.10

Click NEXT to read more...



Image: A man stocks up on fuel at a petrol station in Messina next to Beit Bridge.
Photographs: Siphiwe Sibeko/Reuters.
Prev     Next

Indians pay the highest for petrol, diesel!

Prev     More
Prev

More

Venezuala

Venezuela has the world's largest oil reserves.

Petrol: $0.23
Diesel: $0.10



Image: Venezuela.

Prev     More