Photographs: Giancarlo Rossi/Wikimedia Commons.
Petrol prices are the most volatile across the world. The price of petrol depends on the price of crude oil, taxes, exchange rate and oil company costs.
Petrol price has been slashed by Rs 2 per litre in India, the steepest reduction in rates in nine months.
Take a look at 10 countries where petrol is cheapest according to a report by 'This is Money' and Evans Halshaw.
Venezuela
Price per litre: Rs 6.49 ($0.12)
Percentage of monthly income spent on petrol: 2.73%
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Petrol is cheapest in these 10 countries
Photographs: Marc Ryckaert/Wikimedia Commons.
Egypt
Price per litre:Rs 7.30 ($0.14)
Percentage of monthly income spent on petrol: 4.39%
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Petrol is cheapest in these 10 countries
Photographs: BroadArrow/Wikimedia Commons.
Saudi Arabia
Price per litre: Rs 8.12 ($0.15)
Percentage of monthly income spent on petrol: 0.98%
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Petrol is cheapest in these 10 countries
Photographs: Nijusby/Wikimedia Commons.
Qatar
Price per litre: Rs 9.74 ($0.18)
Percentage of monthly income spent on petrol: 0.40%
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Petrol is cheapest in these 10 countries
Photographs: Soman/Wikimedia Commons.
Bahrain
Price per litre: Rs 12.50 ($0.23)
Percentage of monthly income spent on petrol: 1.81%
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Petrol is cheapest in these 10 countries
Photographs: Wikimedia Commons.
Libya
Price per litre: Rs 12.50 ($0.23)
Percentage of monthly income spent on petrol: 3.32%
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Petrol is cheapest in these 10 countries
Photographs: Wikimedia Commons.
Turkmenistan
Price per litre: Rs 14.31 ($0.26)
Percentage of monthly income spent on petrol: 17.79%
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Petrol is cheapest in these 10 countries
Photographs: Fawaz/Wikimedia Commons.
Kuwait
Price per litre: Rs 14.31 ($0.26)
Percentage of monthly income spent on petrol: 1.2%
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Petrol is cheapest in these 10 countries
Photographs: Wikimedia Commons.
Algeria
Price per litre: Rs 14.31 ($0.26)
Percentage of monthly income spent on petrol: 11.85%
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Petrol is cheapest in these 10 countries
Photographs: Babak Farrokhi/Wikimedia Commons.
Iran
Price per litre: Rs 17.93 ($0.33)
Percentage of monthly income spent on petrol:6.53%
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