Petrol prices are fluctuating in the country. It has crossed Rs.100 per liter in all parts of the country. But in some countries of the world, the price of a liter of petrol is less than Rs.4. The main reasons for this are factors such as abundant oil reserves, government subsidies, and control over fuel prices.
Only 25 paisa at that time!
According to the historical price statistics, when India got independence in 1947, the price of petrol was around 25 paisa per litre. Even till the 1970s, the price was less than Rs.2 per litre. By the year 2000, the price of a liter of petrol reached around Rs.26, while in 2004, it was recorded between Rs.34 and Rs.36.81. In 2008, as international crude oil prices touched the level of 145 dollars per barrel, pressure on petrol prices also increased. Currently (as on October 15) the price of a liter of petrol in Hyderabad is Rs. 116.
Top 10 Cheapest Petrol Countries
According to the price list available as on October 12, 2026.. In some countries petrol prices are less than Rs.4 per liter in Indian currency. Prices in other countries are significantly lower compared to India.
Libya – Rs.2.21 per liter
Libya is the country where petrol is available at the lowest price in the world. There are vast oil reserves here and the government provides subsidies on fuel. However, problems like long-term political instability and fuel smuggling are becoming challenges for the country's energy system.
Iran – Rs.2.71 per liter
Petrol prices are low due to huge oil reserves in Iran and high domestic oil production. The subsidies provided by the government also help in this. However, increased consumption due to cheap fuel is putting a strain on government finances.
Venezuela – Rs.3.32 per liter
Venezuela has one of the largest proven oil reserves in the world. The government uses subsidies to keep fuel prices low. However, the availability of petrol has become a problem in some areas due to the economic crisis, refinery problems and fuel shortages.
Angola – Rs.31 per litre
Angola is one of the major oil producers in Africa. Government subsidies have historically played a key role in keeping fuel prices low. However, the country is following a policy of gradually reducing fuel subsidies to reduce the burden on the government treasury.
Kuwait – Rs.32 per liter
Abundant oil reserves and low production costs are factors that come together for Kuwait. Due to government controlled fuel prices, the prices of crude oil change in the international market, but the local consumers get some relief.
Algeria – Rs.33 per liter
Government controlled prices keep petrol at an affordable price in Algeria, which has large reserves of oil and natural gas. However, the administration of subsidies is causing a cost burden to the government's economy.
Turkmenistan – Rs.40 per liter
Abundance of fuel resources and continued government-controlled economy contribute to low petrol prices in Turkmenistan. Domestic refineries play a vital role in meeting automotive fuel needs.
Egypt – Rs.43 per litre
Egypt has in the past provided extensive subsidies to keep petrol prices low. However, as part of economic reforms, it has taken measures to increase fuel prices in recent years. As a result, the benefit of subsidies on consumers is gradually decreasing.
Qatar – Rs.54 per liter
Abundance of natural gas and other energy resources and limited population are favorable factors for Qatar. Developed fuel infrastructure and government pricing policies help control fuel costs locally.
Bolivia – Rs.56 per litre
Bolivia in South America also relies on government subsidies to keep petrol prices low. The main objective of this policy is to provide protection to the families from the increase in fuel prices. However, the cost of subsidies is likely to put pressure on the government's finances.
Why are prices so low?
Oil reserves are not the only reason for differences in petrol prices around the world. Domestic production, refining capacity, government subsidies, taxes, dependence on imports, and transportation costs also play a key role. Some countries are spending heavily from public coffers to provide cheap fuel to the people. Some other countries are benefiting from domestic oil production.
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