Jokes Around Petrol Prices Latest News & Photos, about Topic - Business Insider India (2024)

FAQs

What is the price of petrol in India today? ›

Comparison of petrol prices in India to other countries

To put this into measurable terms, as of June 2022, a litre of petrol in the United States costs Rs. 107 compared to India's pricing of Rs. 104.

The price of petrol (per litre) in India today is ₹104.21.

The prices of petrol and diesel are going up because its production is limited while consumption is increasing day by day.

Venezuela is the world's cheapest country to buy petrol, where amazingly it costs just 2 pence (GBP) a litre. This is because it's home to some of the biggest oil reserves in the world. But it's also a country where income is very low too.

According to a survey conducted by Global Petrol Prices' website, as of April 2023, Hong Kong has the highest petrol price in the world, with an average price of USD 2.96 per litre (approx.

Gasoline (Petrol) price in the US is significantly cheaper. For INR 500 or $7.04 (as of 20.01. 20) in Texas, one can get about 12.15 liters. But note that prices in the US are different in every state and more often than not significantly higher in bigger cities (San Francisco, New York, etc).

Despite getting cheap oil from Russia, high taxes, refining costs, exchange rate, distribution and transportation costs, and government subsidies contribute to high petrol prices in India. And it's not just India that is facing high petrol prices. America's price of gasoline is calculated in the same way as India.

The U.S. has vast crude oil production, and a large network of refineries. Gasoline “petrol” is taxed, but not nearly to the extent it is in UK and Europe. The U.S. has many areas that area geographically huge, with low population density. Even near urban areas, many people commute 60 or more miles each way.

What is the petrol price in Delhi today? ›

Petrol price today in New Delhi (Delhi) is Rs. 94.72 per litre.

Petrol price today in Mumbai City (Maharashtra) is Rs. 104.21 per litre.

The oil marketing companies determine the daily fuel prices, which are then implemented at their fuel stations across the country. Oil Marketing Companies (OMCs) such as Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd play a central role in the daily revision of petrol prices in India.

As of now, there is a 55% tax on the overall selling price of petrol in India. How much central tax on petrol in India? The central government levies an excise duty worth Rs.19.90/litre on petrol.

Indians are collecting 47% taxes on each litre sold; whereas, Pakistan only collects 20% tax. In other words, if Indians are selling at $1.16 per litre, then their government is receiving around 50 cents per litre on consumption. This adds to their government's revenues and balances their fiscal account.

Current Petrol Price in Pakistan is Rs. 268.36/Ltr, High Speed Diesel is Rs. 270.22/Ltr and Light Speed Diesel is Rs 166.86/Ltr.