Petrol Price Today: Due to the fall in crude oil, petrol became cheaper across the world. Even in Nepal the average rate of petrol is cheaper than India. In the neighboring countries, except Sri Lanka, it is cheaper by Rs 37 per liter in Bhutan, Bangladesh, China, Pakistan and Myanmar as compared to India. Because, Brent crude has once again come close to $70. On the other hand, WTI crude is below $70.
Petrol is cheaper by about 26 rupees in Pakistan
According to the price list of October 14 released on globalpetrolprices.com, the average price of petrol in India is Rs 100.97 per liter. Whereas, in Pakistan it is cheaper by about Rs 26 at Rs 74.75 (INR) per litre. Petrol is being sold at Rs 98.75 (INR) per liter in Nepal and Rs 94.96 per liter in China. Talking about Bangladesh, another neighbor of India, the price of one liter petrol here is only Rs 85.09 per litre. That means about Rs 15 cheaper than India. It is even cheaper in Myanmar. The price of petrol here is Rs 83.70. In Bhutan, petrol is cheaper by Rs 37 compared to India. Sri Lanka is the only country among its neighbors where petrol is costlier than India. The price of petrol here is Rs 108.06 per litre.
Why is petrol becoming cheaper all over the world?
The price of crude oil reached $130 during the Russia-Ukraine war. Later it came down to $90. Here, due to the Israel-Hamas war, crude kept moving between 80 to 95 dollars per barrel. Now the decline has continued for the last one week. According to the latest rate released on Bloomberg Energy, December futures of Brent crude is $ 73.06 per barrel. Whereas, November futures of WTI were at $ 69.22 per barrel.
There is no change in the rates of petrol and diesel in India.
As far as India is concerned, till now the oil marketing petroleum companies have not made any change in the rates of petrol and diesel since April. Let us tell you, the cheapest fuel selling union territory in India is Andaman and Nicobar. The price of 1 liter petrol in Port Blair, Andaman Nicobar is only Rs 82.42. Whereas, diesel is Rs 78.01 per litre.
