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Global fuel prices in 2023: Gasoline in India is cheaper than in Pakistan, Hong Kong and the UK
As the Indian government is set to present its 2023 budget on Wednesday, February 1st, it is important to take a look at oil prices, which play an important role in deciding domestic inflation. While the average fuel...
Updated: 40 months ago2 min read
As the Indian government is set to present its 2023 budget on Wednesday, February 1st, it is important to take a look at oil prices, which play an important role in deciding domestic inflation. While the average fuel price worldwide is Rs 106.90 per liter, the price of petrol in India is Rs 104.18 per liter.
Gas prices worldwide
Pakistan: Rs 249 per litrehe globe
China: Rs 99.11
Hong Kong: Rs 240.82 per litre
Sri Lanka: Rs 113.49 per litre
Bangladesh: Rs 99.61per litre
Russia: Rs 65 per litre
USA: Rs 82.49 per litre
UK: Rs 149.28 per litre
Price differences between countries are mainly due to various taxes and subsidies for petrol. All countries have access to the same oil prices in international markets, but then decide to impose different taxes.
Diesel Prices 2023
The average price of diesel worldwide is 108.81 rupees per litre. However, there are significant differences in these prices between countries. Diesel prices in India are Rs 93.47 per liter compared to Rs 88 in China.14 per liter. Diesel prices in Pakistan are currently above Rs 260 per liter, marking the devaluation of the Pakistani rupee after the government lifted an unofficial cap on the USD-PKR exchange rate in a bid to revive the faltering International Monetary Fund (IMF). loan program. Adding to Pakistan's economic crisis is the fact that its currency is in freefall.
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