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This is what petrol costs around the world (as of February 2021)

Srishti P
·1-min read
3d illustration of oil pump jacks on sunset sky background with financial analytics charts. Concept of falling oil prices
3d illustration of oil pump jacks on sunset sky background with financial analytics charts. Concept of falling oil prices

Did you know, as a general rule, petrol prices are higher in richer countries while poorer countries and the countries that produce and export oil have significantly lower prices?

The average price of petrol around the world is 1.08 U.S. Dollar per litre. However, there is a marked difference in prices among countries.

The only exception to this rule is the United States which is an economically advanced country, but has low gas prices. The differences in prices across countries are due to the various taxes and subsidies for gasoline. All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of petrol is different.

Here's a look at petrol prices around the world as of February 2021:

Also read: What the govt must do to slash petrol, diesel prices immediately

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