If we consider the petrol prices in neighbouring countries we will find that India is selling petrol at highest prices @ Rs 70 per litre. Just have a look at the petrol prices per liters in neighbouring countries:
- Pakistan – Rs 26
- Bangladesh – Rs 22
- Cuba – Rs 19
- Nepal – Rs 34
- Burma – Rs 30
- Afghanistan – Rs 36
Analysis suggests the reason for the high petrol price and factors leading to high cost price are as appended below:
- Basic cost per litre – Rs 16.50
- Centre Tax – 11.80%
- Excise Duty – 9.75%
- Vat Cess – 4%
- State Tax – 8%
All above taxes lead to the highest petrol prices in the whole world.
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