ISLAMABAD: A recent global study has revealed that fuel is the least affordable commodity for an average citizen in India among the world's 10 largest economies.
According to data compiled from fuel prices on May 25 by globalpetrolprices.com, an average Indian can purchase only about eight liters of petrol or diesel with a day's income based on the country's per-capita earnings.
Indian opposition leader from Congress party, Udit Raj, said on X that despite a decrease in crude oil prices in the international market, Prime Minister Narendra Modi's government refrained from passing on the benefit to the people of India.
'Groaning in agony'
He regretted, “This is outright exploitation... The public is suffering such a blow from inflation that people are groaning in agony.”
A member of parliament from the southern Tamil Nadu province, Vijay Vasanth, in his reaction to the hike in fuel prices said in a post on X, "the backbone of India’s local economy is being crushed by relentless increases in input costs by the BJP govt."
In comparison, an average American can buy approximately 199 liters of petrol or 171 liters of diesel with a single day's income, highlighting a massive gap in fuel affordability between the two countries.
Among the top 10 global economies, Brazil ranks just above India, with the average Brazilian able to afford around 20 liters of fuel per day.
Citizens in countries such as Italy, France, Germany, the United Kingdom, and Japan can purchase more than 50 liters of petrol or diesel with their daily earnings.
Even Russia, despite being a major oil producer, ranks below these developed economies in terms of fuel affordability.
Globally, Libya tops the affordability chart, where an average citizen can buy nearly 789 liters of petrol or diesel with one day's income.
Diesel is most affordable in Venezuela, where a day's earnings can purchase an astonishing 2,573 liters of diesel.
In Iran, the figure stands at 1,866 liters.
Fuel affordability is generally highest in oil-rich nations.
Citizens of Kuwait, Venezuela, Qatar, Iran, and Libya can afford more than 200 liters of fuel with a day's income.
At the other end of the spectrum, fuel is most unaffordable in some of Africa's poorest countries. In Malawi and the Central African Republic, an average day's income is not enough to buy even one liter of petrol or diesel.
In countries such as Burundi, Mozambique, and Madagascar, a day's earnings can buy less than two liters of fuel.
Out of 158 countries included in the study, India ranks 121st in petrol affordability and 118th in diesel affordability, underlining the burden of fuel costs on the average Indian consumer.
Petrol, diesel prices in India
In India, the most recent revision of petrol and diesel prices came on May 25, when oil marketing companies raised rates by more than Indian rupees 2.50 per liter.
The increase marked the fourth fuel price hike in less than two weeks, as companies continued passing on the impact of higher global crude oil prices linked to tensions involving Iran.
Since May 15, fuel prices have risen by nearly Indian rupees 7.50 per liter in total, significantly increasing costs for consumers.
With the latest hikes, petrol and diesel prices have climbed to their highest levels since May 2022 in the south Asian country.
The recent surge reflects mounting pressure from international oil markets, raising concerns about transportation costs and inflationary impacts on households and businesses.
According to Press Trust of India (PTI), prices of commercial LPG cylinders used in hotels, restaurants and other businesses were also increased by Indian rupees 42 per 19-kg cylinder on Monday.
