रविवार, 3 नवंबर 2013

Petrol Diesel Prices in India compared with other countries

Metal prices, including Gold and Silver are coordinated at the global level. With minor fluctuations, gold and silver cost almost the same in different countries.
But in case of black liquid gold - Petrol, the prices vary so much across nations, mainly due to the Government excise and tax rates and subsidies for fuel.
When the crude oil peaked to $150 per barrel in the United States in year 2008, the price of petrol per liter was increased to INR 50 in India.
But within months, when the price again dropped to $70-80 (by around 50%) per barrel in the US, it was decreased by only around 20% (to INR 40 per liter) in India.
And today, when the price of crude is still in the $90-100 range (per barrel) in the US, here in India we are being charged INR 63 per liter.

The government controls prices of diesel, PDS kerosene and domestic LPG.

oil marketing companies pay a Trade Parity Price (TPP) for the purchase of petrol/diesel and Import Parity Price (IPP) for the purchase of PDS kerosene and domestic LPG.

Trade Parity Price (TPP) and Import Parity Price (IPP) are determined based on prices prevailing in the international market.

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Petrol Prices –
Without taxes in India Petrol would cost Rs 23.37 per litre in Delhi.

1. Petrol in Delhi is priced at Rs 63.70 a litre,
2. USA - Rs 42.82 per litre
3. Pakistan Rs 41.81 a litre
4. Sri Lanka Rs 50.30 per litre
5. Bangladesh Rs 44.80 a litre
6. Nepal Rs 63.24 per litre
7. France Rs 94.97 per litre
8. Germany Rs 95.99 a litre
9. the United Kingdom Rs 96.39 per litre
10. Italy Rs 96.79 a litre

Thus petrol prices are less in USA,Pakistan,Sri lanka,Bangaladesh, and Nepal when compared with petrol prices in India.

When we compare the petrol prices in India with European countries we find that Petrol is cheaper in India.

Diesel Prices Per litre

Without taxes, diesel would cost Rs 24.90 a litre in Delhi.

1. Delhi - Rs 41.29
2. USA - Rs 45.84
3. France - Rs 69.87
4. Germany - Rs 72.54
5. UK - Rs 82.93
6. Italy - Rs 74
7. Pakistan - Rs 46.70
8. Nepal - Rs 45.38
9. Sri Lanka - Rs 34.37
10. Bangladesh - Rs 27.32

Diesel is cheaper in India than USA and European nations.

Diesel prices are more in India when compared with Sri Lanka and Bangladesh.

kerosene price per litre –
1. Delhi - Rs 14.83
2. Sri Lanka - Rs 24.67
3. Bangladesh - Rs 27.32
4. Pakistan - cooking fuel priced at Rs 44.06 per litre

domestic LPG Price per cylinder –

The price of kerosene is subsidized by Rs 23.74 a litre and LPG by Rs 247 per cylinder in India.

1. India - Rs 399 per 14.2-kg cylinder
2. Pakistan - Rs 757.04
3. Sri Lanka - Rs 863.40
4. Bangladesh - Rs 469.24
5. Nepal - Rs 819.60

Unlike in India, crude oil is priced almost the same across several countries
(latest crude price data by US-EIA: Energy Information Administration):
World Crude Oil Prices

From the above list, it is clearly visible that the price across the listed countries varies from $100-120. And in the United States, it is around $100 at the time of writing this article (Live Oil Price - US)

A US barrel consists of 159 Liters, therefore at the present price of INR 63, a US Barrel of petroleum in India costs INR 10,017 or approx. $222 (taking 1 USD = INR 45 ).
Therefore, today when we are paying Rs.63 per liter of petrol, in the US people are just paying around INR 28 per liter of petrol.

It clearly means that we Indians are paying more than double the price as compared to US and several other countries.

And as petroleum prices also contribute to the cost of almost all other commodities of a country (by adding to the transportation costs), today the cost of living for the common man (read non-politicians) is aiming the sky.

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