With energy demand rising  to pre-covid levels since March 2022, and the Ukraine-Russia war leading to sanctions on Russian crude oil exports, motor fuel prices are going through the roof.

Although pump prices in India are elevated with the average price of petrol hovering over Rs 100, Indians aren’t really the worst affected. European countries are worse off - the United Kingdom’s pump prices for petrol (in rupee terms) are among the highest in the world at Rs 178.9/litre, as of July 25. 

The UK’s high pump prices are also a function of the shortage in fuel supply due to environmentalist groups blocking supply of fuel, which resulted in long queues at petrol pumps. This was compounded by the recent depreciation of the pound sterling against the US dollar.

Petrol prices in France and Germany are the second and third highest with petrol prices at Rs 150.8/litre and Rs 141.3/litre, respectively. In rupee terms, India, China and Japan’s petrol prices are lower than European countries. 

China has a marginally higher pump price at Rs 111/litre as compared to India’s average of Rs 104/litre. Japan’s petrol price is lower than India's at Rs 96.8/litre.

With many Indian states and the Centre cutting sales and excise taxes on motor fuel, Indian petrol prices have been lower than global averages.. India’s fuel prices haven’t changed since April 7.