In the view of the rise of prices of Petrol (and other petroleum derivatives), we decided to look at the prices of petrol in some of the countries around the world, mostly our immediate neighbours, BRICS countries and the USA.
This is what the simple comparison chart looks like:
Per-litre rates in USD are in brackets
You will notice that Brazil has prices higher than India. This is because the tax on petrol (gasoline) is quite high. We think it is because Brazil has a thriving biofuel (ethanol) industry. Incidentally, the tax rate was lowered this month to coincide with a price rise by Petrobras.
Do you think that India should be lowering taxes on petrol?
Note: these prices are current as of 5/11/2011. Exchange rates also as on 5/11/2011
Hat-tip to @nixxin for the idea
