LPG price highest, petrol 3rd highest and diesel 8th highest globally: This is how much Indians pay for fuel
For an average Indian, the price of one litre of petrol is about one-fourth of their daily income, while in Western countries, it’s only a fraction
According to a report in The Times of India, Indians pay the highest price for per litre fuel anywhere in the world. While for LPG, we’re at the top, when it comes to petrol and diesel, Indians pay the third-highest (only after Sudan and Laos) and eighth-highest rates respectively, as compared to the global market. In LPG price, India is followed by Turkey, Fiji, Moldova and Ukraine.
The comparable price of petrol in India is 5.2 international dollar per litre while in Sudan. it is, 8 international dollar and Laos it is 5.6 international dollar per litre.
These figures come out when we look at the nominal exchange rate of the international currencies. For an average Indian, the price of one litre of petrol is about one-fourth of their daily income, while in Western countries, it’s only a fraction. For example, the petrol price at Rs 120 per litere means $1.58 at the exchange rate of Rs 75.84 per dollar. Now, a dollar can buy far less in America than Rs 75.84 can in India.
However, according to the IMF, the PPP or international dollar has averaged Rs 22.6 in 2022 and not Rs 75.84.