When it comes to fueling up your vehicle, petrol is one of the most commonly used fuels. It is consumed all around the world and its prices vary from country to country. This brings us to the question, how much is 1 litre of petrol?
Petrol Prices around the World
First things first, petrol prices are not the same everywhere in the world. The price of petrol depends upon various factors, including:
- Crude Oil Prices: The main factor that determines the price of petrol is the price of crude oil. High crude oil prices lead to an increase in fuel prices.
- Taxes: Governments often impose taxes on petrol to control fuel consumption and generate revenue.
- Transportation Costs: The cost of transporting petrol from oil refineries to petrol pumps also contributes to the final price.
The price of petrol is usually expressed in terms of 1 litre. Here is a summary of petrol prices in some countries:
| Country | Price per Litre |
|---|---|
| USA | $ 0.79 |
| Canada | $ 1.06 |
| India | ₹ 104.18 |
| Australia | $ 1.30 |
| UK | £ 1.27 |
Factors Affecting Petrol Prices
As mentioned before, petrol prices depend on various factors. The following are some of the factors that affect the price of petrol:
Crude Oil Prices
As crude oil is the main ingredient that is used to make petrol, any change in crude oil prices affect the price of petrol directly. When crude oil prices rise, the price of petrol also rises.
Taxes
Taxes are imposed on petrol by the government in most countries. In some countries, taxes make up a significant portion of the petrol price. When the tax rate is high, the petrol price is high too.
Exchange Rate
Since crude oil is traded in US dollars, any change in the exchange rate can also affect petrol prices in a country. If the exchange rate of the country's currency with the US dollar is low, then petrol prices increase.
Conclusion
In conclusion, the price of petrol varies from country to country and is affected by various factors, including crude oil prices, taxes, and transportation costs. The final price of petrol is usually expressed in terms of 1 litre and can be found at the petrol stations.
