World's costliest & cheapest petrol

posted by   rsk4you (207)   6 months ago (specials.rediff.com)

The price of petrol in India is set to go through the roof. Reason? Global oil prices are at all-time high levels (about $130 per barrel) and the nation's public sector oil companies can no longer sustain the heavy subsidy on petroleum products. So the government has no other way out but to increase the prices of petrol, diesel, cooking gas and kerosene and align them with global oil costs. In dollar terms, the cost of petrol in India (in Mumbai, specifically) is around $1.20 (Rs 50.76) per litre. And it is set to rise by about 10-15 per cent.