For petrol, Indians shell out the most in the world

[The Messiah]

My friend, 7th largest exporter of oil in the entire world, much more than most arabs, as a nation still struggling with poverty. Compare its condition with other South American countries if not India.

Chile, a nation whose geographical position sucks, produces no oil, has less land than Venezuela and nearly equal population. Still it has better HDI and less poverty. My next examples would be Argentina and Brazil.

I don't understand why do feel the need to defend that buffoon of a leader.

Before chavez the capitalists were running the roost and the poverty rate was upto 70%. Chile also has poverty and income inequality and not to mention how the yanks put there stooge pinochet who went on a murdering rampage on his own people. Venezuela is also suffering because capital is being pumped out by foreign investors. Of course they have problems but no one can fix it overnight. I am not defending him but merely saying he's not the devil that the mainstream media make him out to be.

 

[Godless-Kafir]

Before chavez the capitalists were running the roost and the poverty rate was upto 70%. Chile also has poverty and income inequality and not to mention how the yanks put there stooge pinochet who went on a murdering rampage on his own people. Venezuela is also suffering because capital is being pumped out by foreign investors. Of course they have problems but no one can fix it overnight. I am not defending him but merely saying he's not the devil that the mainstream media make him out to be.

That is actually true, before Chaf the poverty was actually even worse!

However Chaf is suffering from cancer now.

 

[Blackwater]

Petrol, Diesel, LPG is really expensive now. Almost price doubled in last few years. 30 to 70 Rs in just few years. Sad for 90% Indian.

wat r u then??? Afgani??? or Talib

 

[Godless-Kafir]

What is the lowest price of Petrol you can remember guys? Tell me what is the lowest you have seen in your life?

 

[The Messiah]

What is the lowest price of Petrol you can remember guys? Tell me what is the lowest you have seen in your life?

Mid 20's....

 

[blueblood]

What is the lowest price of Petrol you can remember guys? Tell me what is the lowest you have seen in your life?

28 or 29, I think.

 

[Phenom]

It is not very accurate to compare petrol through PPP terms, since pretty much all the petrol India uses is imported, in terms of PPP the price would always be high compared to oil producing countries.

In terms of hard cash we seem to be in the top 50 behind countries like UK, Israel, Thailand and so on.

 

[sob]

Phenom even in terms of PPP we have one of the highest rates of petrol in the world

For petrol, Indians shell out the most in the world - The Economic Times
So, how does one compare prices across countries? This is done by the widely used Purchasing Power Parity (PPP) method. Differences in purchasing powers are evened out and relatively real price comparisons emerge. Using PPP prices, petrol is by far much more costlier in India than most countries. PPP price of petrol in India is $3.95, lower than just three small countries - Timor-Leste, Malawi and Eritrea.
Petrol costs less than a dollar in the OPEC and USA while in most of Europe, Russia, Japan, China and the Americas it is priced between one to two international dollars by PPP calculations. Despite huge subsidies, diesel is more expensive in India than 136 other countries. Costing $2.46 at PPP, India is 23rd most expensive in diesel prices. Can anybody explain why Indians have to bear this unbearable burden?

 

[Yusuf]

What is the lowest price of Petrol you can remember guys? Tell me what is the lowest you have seen in your life?

When I first got a bike in 1995, I think it was 15 or 16. Or was it 18. But surely it was less than 20.

 

[ejazr]

Well getting rid of petrol subsidies is a natural course for taking a centre right approach towards this. The only problem I have is that the state level taxes should be reduced and this is really a state issue. For example in AP, there is a 33% VAT on petrol which is just enormous and one of the highest in India. All states should bring down all their taxes to around 10% level. This would by itself reduce the prices by 30-40%

But eventually, all subsidies on Petrol, Diesel, LPG should go. Only targeted cash transfers should be kept to help the poor. And along with that only minimal taxation not more than 10% should be allowed.

 

[thakur_ritesh]

i recall rs10 a liter, or was it 8 a liter, around '90-'91.

 

[sob]

Well getting rid of petrol subsidies is a natural course for taking a centre right approach towards this. The only problem I have is that the state level taxes should be reduced and this is really a state issue. For example in AP, there is a 33% VAT on petrol which is just enormous and one of the highest in India. All states should bring down all their taxes to around 10% level. This would by itself reduce the prices by 30-40%

But eventually, all subsidies on Petrol, Diesel, LPG should go. Only targeted cash transfers should be kept to help the poor. And along with that only minimal taxation not more than 10% should be allowed.

ejazr : For the state Govts. Petroleum product is the easiest form of revenue. They do not have to do any special efforts to generate this revenue. Everytime the Govt raises the price of the fuels, the state Govts.get incremental increase in terms of State Taxes.
It is ironical that the segment of population that generates so much tax is never considered for benefits from this money.

 

[hit&run]

high octane petrol (98) price in New Zealand is 89.53 rupees today. Whats the price here in India?

 

[sob]

I recall Petrol prices being in single digits when I was a kid. ( Don't try to guess my age>>>>>>>>>>>>>>)
In fact my father till date cannot forget the shock the nation got in early 70s when following the war in Mid East the price of petrol went up by almost 200%.

 

[sob]

high octane petrol (98) price in New Zealand is 89.53 rupees today. Whats the price here in India?

BPCL sells it almost for the same price, I do not have the exact figure but it is almost 80+. If we compare the PPP of India with New Zealand then where are we?