Venezuela is the country with the cheapest petrol prices.
Various countries have different petrol prices depending on their production and economy.
Rising petrol prices have always been an issue for the people of the country. The fluctuation in petrol prices can turn any discussion into a political debate and whenever a revision of the prices is announced, people flock to the petrol pumps to fill their vehicles before the prices rise. The primary fuel for vehicles is made by processing petroleum that is obtained from crude oil under the earth’s crust. In general, countries produce more petrol than they need to be able to meet the sudden increase in demand.
Various countries have different petrol prices depending on their production and economy and here is the list of countries that have the cheapest petrol:
Venezuela is the country with the cheapest petrol prices. The cost per gallon is Rs 4.97 which means that the country offers petrol for Rs 1.34 per litre.
Libya, also known as the State of Libya, is where citizens can avail petrol for Rs 2.68 per litre. The price per gallon is Rs 9.93 and the reason behind the cheap petrol is that the country is rich in fossil fuels and oil reserves.
Another oil-rich country that has low petrol prices is Iran. The country is known for exporting more than half its production to other parts of the world and the price of a gallon is Rs 16.56. This means that a litre of petrol costs Rs 4.47 here.
Angola’s petroleum industry produced an average of 1.16 million barrels of oil per day in 2022. The price of petrol per gallon in this country is Rs 99.37. This means that a litre of petrol costs Rs 26.8 to the citizens.
Algeria is another country rich in fossil fuels which makes the prices of oil drop automatically. The country has priced a gallon of petrol at Rs 105.13 and a litre of it costs Rs 28.3.
The most expensive country in terms of petrol prices on the list has a little more than 1/4th the price of petrol in India.
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