After the Iran and Israel-America war, the prices of crude oil in the international market have been badly affected. Due to the rapid increase in the price of crude oil, a sharp rise in the prices of petrol and diesel is being seen across the world. In many countries, due to cost of fuel, there is additional burden on the pockets of common people and inflation is also increasing.
The direct impact of the Iran war is visible in the neighboring country Pakistan. There has been a huge increase in the prices of petrol and diesel in Pakistan. After the Iran crisis, the Pakistan government has increased the prices of fuel significantly. There the price of diesel has increased by about 54.9 percent, after which it has reached Pakistani rupees 520.35 per liter. The price of petrol has increased by about 42.7 percent and now it is Pakistani rupees 458.40 per liter.
The impact of rising oil prices in Pakistan has been seen on transport. Due to cost of transport, the cost of daily transportation and transportation of goods has increased, which is affecting the life of the common man.
Where is the most expensive petrol found in the world?
Currently, there is a huge variation in petrol prices globally. Hong Kong tops the list of countries with the most expensive petrol. Oil here is mostly imported from China, but due to very high local prices the number of private vehicles is less.
Apart from this, petrol is also very expensive in countries like Liechtenstein, Albania, Greece and Norway. Taxes and import dependence drive up prices in these countries. After India, the price of petrol in Delhi is around Rs 94.77 per liter and diesel is around Rs 87.67 per liter.
Where is the cheapest petrol available in the world?
Even though there is a global crisis, petrol is still very cheap in oil producing countries. Iran ranks first among the countries with cheapest petrol. In Iran it is around 2.69 Indian Rupees per litre. Iran is one of the world’s leading oil producers, so prices are extremely low due to subsidies and local production. After this, in Venezuela it is around $0.035 per liter. Here are the world’s largest oil reserves.
Apart from this, petrol is also available very cheap in countries like Libya, Angola, Egypt and Algeria. The Iran crisis has affected the supply chain of crude oil, making the fuel expensive globally. Cheap fuel is still available in oil producing countries, but prices are rising rapidly in import dependent countries. If this tension continues for a long time, the prices of petrol and diesel may increase further, which will increase inflation and increase the problems of the common people.