Even though petrol prices in India are at an all-time high, the prices have remained quite stable in recent months. This is positive considering the prices for other commodities have slightly increased during the same time frame.
Now as per the research conducted by Picodi, some of the other countries have not witnessed such stability in the prices of petrol (compared to January 2023). That being said, Pakistan witnessed the highest petrol price hike with an increase of more than 22 per cent.
At the same time, Sri Lanka also witnessed a drastic change in petrol prices. However, unlike Pakistan, prices for petrol in Sri Lanka dipped by more than 25 per cent. Furthermore, prices for petrol in China also went down by almost 0.3 per cent.
That being said petrol price in Pakistan is still among the lowest in the continent at just $0.92 per litre (Rs 75.53 per litre, approximately). In comparison, the petrol price average in India stands at $1.27 per litre (Rs 104.26 per litre, approximately).
According to the source, the petrol price average in India is approximately 1 cent (Rs 0.82) more than the continental average. Speaking about averages, petrol price in Malaysia continues to be at the lowest, costing just $0.44 per litre (Rs 36.12 per litre, approximately).
In comparison, petrol prices in Hong Kong continues to be a nightmare for petrol vehicle users. In fact, petrol prices in Hong Kong stand at $2.99 per litre (Rs 245.46 per litre, approximately).
That being said, the affordability of petrol is more important than the price of petrol itself. This is because of the difference in the average wage in each country. This also shows the purchasing capacity of the common citizens in the country.
A good example of this calculation is Pakistan. The price of petrol in Pakistan is among the lowest, and so is the wage at just $154 per month (Rs 12,642, approximately). This means an average consumer can afford just 166 litres of petrol per month in Pakistan.
In comparison, the average wage in India stands at $574 per month (Rs 47,121, approximately). So, despite the petrol price difference of more than Rs 28, an average Indian could afford 453 litres of petrol per month in India.
Also, in China, with an average wage of $1,016 per month (Rs 83,405, approximately) its average citizen can afford 893 litres of petrol per month. Thanks to this data, India is ranked 55th out of 104 countries across the world.
The latest petrol price data not only gave a glimpse of the lowest and highest petrol prices in the continent, but it also revealed the affordability of petrol. That being said, though the petrol price in India is on the higher side, an average Indian could afford a decent quantity of petrol.
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