Fuel makes up a major proportion of any country’s economy, and probably can be said the most important factor of any nation’s GDP.
The crude oil that is extracted and till we get it filled in the tanks of our vehicle comes after a series of tedious tasks and makes up a huge fraction including taxes.
At a time when Indians are struggling with all-time high petrol prices across the length and breadth of the country there exist some countries that deal in petrol retail even lesser than what Indian pay in taxliter.
On the list, the first country with the cheapest petrol rate across the globe is Venezuela which retails petrol at a meager rate of Rs. 1.31liter.
Africa’s fourth-largest country Libya comes next where the petrol price is just Rs. 2.54liter.
The Islamic Republic of Iran abundant with the presence of black gold in the Asian bloc is among the countries with the cheapest rate of petrol at Rs. 4.34liter.
The African state of Angola after a recent revision is trading at the price of somewhere close to Rs. 26.
Algeria falls fifth on the list of minimal rates for trading a liter of petrol in retail for its public which is close but still less than what India pays in taxes per liter. i.e., Rs 27.07
Another middle eastern nation on the list that is abundant in oil reserves that trade per liter of petrol at less than 30 is Kuwait which has a price of Rs. 27.89.