₹ 100 liter in India, but petrol in these countries for ₹ 3, know where to get the cheapest fuel in the world

Countries Where Petrol Is Cheapest: Petrol prices change every other day around the world. Somewhere there is the effect of tax and somewhere there is the pressure of international market. But the latest data is shocking that in some countries the price of petrol is so low that it is even cheaper than a small packet of chips available in India. At present, the cheapest petrol in the world is available in Libya and Iran, where the prices are only between Rs 2.50 to Rs 3 per liter.

Libya: cheapest petrol in the world

Libya currently ranks first in the world in terms of cheap petrol. The average price of petrol here is around $0.031 per liter, which is approximately Rs 2.60 in Indian currency. The two main reasons behind such low prices are the huge government subsidies and the huge oil reserves available in the country. Libya is an oil rich nation and the government provides fuel at very low rates to provide relief to its citizens.

Iran: At number two, but the challenge is also big

Iran is in second place, where petrol is available for around $0.029 per liter i.e. around Rs 2.51. Due to the strong subsidy policy, fuel here is counted among the cheapest options in the world. However, such low prices have created a new problem. Smuggling of fuel from Iran to neighboring countries has become a big challenge. To prevent misuse, the government has made a rule that the prices are increased for those who use more than 160 liters of petrol every month.

Venezuela: once number one, now third

Venezuela, which was once the cheapest petrol selling country in the world, is now at third place. The price of petrol here is around $0.035 per liter i.e. around Rs 3. Quota system is implemented in the country, in which the first subsidy is available up to 120 liters per month. If consumption exceeds this, the price can reach around $0.50 per liter. Which comes to around Rs 45.

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Angola and Kuwait also included in the list

Apart from the top three, petrol in Angola is available for around $0.33 i.e. around Rs 27 per litre. Kuwait is among the cheapest fuel providers among the Gulf countries, where the price is around $0.34 i.e. around Rs 28 per litre. India is ranked 73rd in this global list, where the price of petrol ranges between approximately ₹ 94.77 to ₹ 105 per liter. In comparison, Pakistan is ranked 36th, where the price is around ₹80 to ₹84 per litre.