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Petrol in India is costlier than 98 countries while diesel is more expensive in India than 136 other countries.
Petrol costs less than a dollar in the OPEC region and USA, in Russia, Japan, China, it is priced between $1-2 based on PPP calculation, where differences in purchasing powers across countries are evened out, according to a report in The Economic Times.
In economics, purchasing power parity (PPP) is a condition between countries where an amount of money has the same purchasing power in different countries. The prices of the goods between the countries would only reflect the exchange rates.
In September, state-owned oil companies hiked petrol prices by Rs 3.14 per litre, the third hike this year.
Petrol prices were freed from the government control in June last year.
Petrol: $3.95
Diesel: $2.46
(Prices per litre PPP $)
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China
While India saw a spate of price hikes, China cut fuel prices in a bid to control inflation.
The wholesale gasoline prices and diesel prices were cut by 300 yuan.
Petrol: $1.95
Diesel: $1.83
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United Kingdom
The UK has the eleventh highest petrol price in Europe.
Petrol: $1.85
Diesel: $1.91
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Brazil
Fuel prices continue to rise in Brazil increasing inflation.
Petrol: $1.70
Diesel: $1.23
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Japan
Japan lacks significant domestic sources of fossil fuel and imports crude oil and natural gas.
Petrol: $1.28
Diesel: $1.09
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Russia
Russia has the world's largest natural gas reserves and the eighth largest crude oil reserves.
Petrol: $1.26
Diesel: $1.08
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United States
United States has proven oil reserves of 20.68 billion bbl as of January 2011.
Petrol: $0.76
Diesel: $0.84
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South Africa
South Africa's petrol prices in the main inland commercial region will increased by up to 37 cents in October.
Petrol: $0.23
Diesel: $0.10
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Venezuala
Venezuela has the world's largest oil reserves.
Petrol: $0.23
Diesel: $0.10