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Whenever you fill petrol and diesel in your bike or car, you may feel that petrol has become very expensive. Its average price in India is around Rs 100. If we talk about the average of the whole world then it is 1.29 dollars (114 rupees) per litre. Some countries are buying very expensive oil while there are some who are getting oil cheaper than the price of water. Today we are telling you about 5 such countries, where the price of petrol is very low. So little that it will be difficult for you to believe.
The cheapest petrol in the world is available in those countries where oil production is very high. The government also provides subsidies and their dependence on oil imports is very less. These countries consider petrol not just as a fuel but as their “national asset”.
1. Iran: $0.029 (Rs 2.57) per liter – Petrol is almost free in Iran. The government here gives huge subsidies to its citizens and the country has immense reserves of oil. Iran’s economy is based on oil, and this is the reason why petrol is available so cheap there. Understand that you will need approximately 37 liters of petrol to travel the distance (550 kilometers) from Delhi to Lucknow in your car which gives a mileage of 15 kilometers per liter. Meaning, you can cover the distance from Delhi to Lucknow in just Rs 95 petrol.
2. Libya: 0.031 dollars (2.75 rupees) per liter – Libya, the country with the largest oil reserves in Africa, provides petrol to its citizens at a very low price. Although political instability and internal conflicts often hinder the supply of petrol and diesel here, the subsidy system has kept the prices very low. Here also the distance from Delhi to Lucknow can be covered with fuel costing around Rs 100.
3. Venezuela: $0.035 (Rs 3.11) per liter – Venezuela is in the list of top countries in the world in terms of oil reserves. Here the government exercises complete control over the energy sector and petrol prices for the public are kept at almost “symbolic” levels. Although the economic crisis and inflation have weakened the condition of the country, the price of petrol still remains very low.
4. Kuwait: $0.34 (about Rs 3) per liter – Kuwait is a small but extremely prosperous OPEC country. Oil production here is so high that the government is able to provide cheap petrol to the local market through subsidy. For the citizens here, petrol expenditure is just a small part of living. In India, if you drink even a cup of tea, it costs at least Rs 10. This means that more than 3 liters of petrol can be filled for the cost of one cup of tea.
5. Egypt: $0.32 (Rs 2.84) per liter – Egypt has increased its domestic production in the last few years and has kept prices under control through government subsidies. Although prices sometimes increase due to IMF reforms, on average petrol is still considered cheap in Egypt.
