New Delhi: The average price of petrol around the world is Rs 79.86 per litre, according to GlobalPetrolPrice.com. However, prices vary across the globe depending upon various factors. Countries that export oil tend to have lower prices than non-exporting countries. There is a continuous fuel price hike in India from past 15 days, petroleum minister Dharmendra Pradhan has said that the government would intervene to reduce prices. The steep rise in petrol prices had a major impact on daily essential commodities. Here is a list of countries where the petrol is most expensive in the world:
Hong Kong
The petrol prices in Hong Kong special administrative region are the highest in the world. Hong Kong residents are paying Rs 143.54 per litre as per May 21, 2018. The China National Offshore Oil Corporation decides the prices for Hong Kong.
Iceland
Iceland is paying the second highest amount for petrol across the globe at Rs 141.94 per litre as per May 21, 2018. Even within the country, petrol companies are quite competitive and difference between average price is as low as 1-3%. Most companies drop prices at selected stations in order to advertise.
Norway
Norway is paying Rs 136.79 per litre as per May 21, 2018- the third highest amount in the world. According to the analysis of Bloomberg data by Santander Bank, Norway pays 26% higher than United Kingdom.
Netherlands
The Dutch politicians have voted through motion calling on the country ban sales of new petrol and diesel selling cars by 2025. As such, people in Netherlands pay Rs 131.33 per litre petrol as per May 21, 2018. However, electric car sales in Netherlands is currently at 10 percent.
Denmark
The prices in Denmark are usually much higher than rest of the Europe. Danish people pay Rs 129.78 for per litre petrol as per May 21, 2018. Shell is majority player in the country, competing with eight others. With rising prices of conventional fuel in the country, the sale of electric cars is on the rise.
Monaco
The residents of Monaco pay Rs 129.60 for a litre of petrol. Monaco is world’s second smallest country in Western Europe and France borders the country from three sides. Overlooking the blue waters of the Mediterranean Sea, a road trip is the biggest tourist attraction but high fuel prices restrict tourists for the same.
Greece
The Greeks pay the seventh highest amount for per litre of petrol - Rs 128.57. Greece charges 56.67 percent tax on fuel - the second highest rate in the European Union. The demand has gradually fallen over the years but, price gouging remains common practice.
Israel
Israel residents are paying Rs 126.73 per litre of petrol that 61 perecnt more than the average petrol price. The price of diesel is 65 percent more than the world’s average. Paz oil company ltd holds more than 30 percent of the Israeli fuel market.