While India Pays ₹100+ For Petrol, These 5 Countries Sell Fuel For Just ₹2–₹3 Per Litre – The List Will Shock You
Fuel prices are a constant concern for people around the world. In countries like India, petrol prices often cross ₹100 per litre, putting pressure on household budgets and transportation costs. But surprisingly, there are some nations where petrol and diesel are unbelievably cheap. In fact, in a few places petrol costs less than a piece of candy. Here are five countries where fuel prices are among the cheapest in the world.
Libya
Libya consistently ranks as the cheapest fuel market in the world. Petrol costs about $0.02 to $0.03 per litre. The extremely low price is mainly due to massive government subsidies and abundant crude oil reserves.
Iran
Iran also sells petrol at very low rates, around $0.02 to $0.03 per litre for subsidized fuel. The government heavily supports domestic fuel prices to keep transportation affordable for citizens.
Venezuela
Venezuela remains among the cheapest despite economic instability. Petrol prices are roughly $0.03 to $0.04 per litre, thanks to the country’s massive oil reserves and strict government price controls.
Angola
In Angola, petrol costs roughly $0.32 per litre. The country is a major oil producer, and government regulation helps maintain relatively low fuel prices.
Algeria
Petrol prices in Algeria are around $0.36 to $0.37 per litre. Long-standing fuel subsidies and strong domestic oil production keep prices among the lowest globally.
Why fuel is so cheap in these countries?
Large domestic oil reserves
Strong government subsidies
Low or zero fuel taxes
State control of oil production and pricing
Disclaimer
Fuel prices mentioned in this article are approximate and may vary based on currency exchange rates, government policies, and global oil market fluctuations. Prices can change over time.
