Indian National Congress’s vice president Rahul Gandhi attacked the ruling Bharatiya Janata Party on Friday and one of his key demands from the government was to bring petrol and diesel under recently implemented Goods and Services Tax (GST). Gandhi indirectly claimed that current fuel prices are resulting in excessive profiteering from common man and government of India alone earns Rs 273,000 crore from it.
The rampant fuel prices have always been a concern for masses and every now and then comes the question of why fuel prices are so high in India? It’s not just India, there are countries which pay almost double for a litre of petrol. Let’s have a look at few nations which pay the most and least for a litre of petrol:
5 countries with most expensive fuel prices:
- Hong Kong
Sitting at the top with Norway in terms of most expensive fuel prices in the world, a litre of petrol in Hong Kong costs a whopping Rs 129.5.
It is the only oil-producing country in the world that has such high fuel prices. The enormous taxation in the country means one litre of petrol costs around Rs 129.
This European country doesn’t produce oil and in order to buy a litre of petrol there, one has to shell out Rs 123.6.
The cash rich state is ranked number two in United Nations’ list of top countries in terms of per capita nominal GDP. People there pay Rs 119.7 for a litre of petrol.
Dutch citizens pay a whopping Rs 119 to get a litre of petrol and according to an estimate, monthly fuel prices there cost more than Rs 50,000.
5 countries with least expensive fuel prices:
The oil-rich country is a boon for car lovers as one can drive all day long without a worry of fuel prices. A litre of petrol comes at a cheap price of Rs 23.
This North African country has 10th largest reserves of natural gas as a litre of petrol costs around Rs 20.
Reserves at the Galkynysh gas field in Turkmenistan are estimated at around 21.2 trillion cubic metres. A litre of petrol in this Asian country costs Rs 19.
Everyone knows the oil fields and colossal reserves of natural gas in this gulf nation. A litre of water is more expensive here than a litre of petrol, which comes at Rs 15.7.
The Latin American country has the largest oil reserves in the world and beats competition of oil prices by miles. Venezuela is going through an unprecedented financial crisis and according to reports, it is literally running out of cash but still buying a litre of petrol there will cost you a meagre sum of 65 paise.