Petrol for Rs 3: World's Cheapest Fuel Nations Revealed; Where Does India Stand?

• Iran leads with petrol at Rs 2.50-3 per liter due to massive government subsidies, though a quota system is now in place to curb smuggling.
• Libya and Venezuela also offer petrol at chocolate-like prices, around Rs 2.54 and Rs 3 per liter respectively.
• Gulf nations like Kuwait and Iraq sell petrol for Rs 29-30 per liter, while Saudi Arabia and Qatar are higher due to reduced subsidies.
• India ranks 73rd globally with petrol prices between Rs 95-105 per liter, significantly higher than Pakistan (Rs 80-84) and Angola (Rs 27).
• Price disparities are attributed to countries' own oil production (India imports over 80%) and varying tax structures, with India imposing high central and state taxes.