ISLAMABAD: Pakistan ranks 36th among the world’s cheapest petrol markets, with Iran offering the lowest petrol price at Rs7.98 per liter, while Hong Kong tops the list of the most expensive at Rs950 per liter, according to a report by Global Petrol Prices and CNBC on January 27, 2025.
Ranking of South Asian Countries
Among South Asian nations, Bhutan ranks 22nd, Afghanistan 31st, the Maldives 34th, Nepal 75th, and Sri Lanka 86th in terms of petrol affordability. Meanwhile, Bangladesh ranks 46th and India 73rd.
For diesel prices, Pakistan ranks 45th, Bangladesh 31st, and India 61st. Other rankings in the region include Bhutan at 26th, Afghanistan 30th, the Maldives 38th, Sri Lanka 66th, and Nepal 79th.
Global Petrol Price Comparison
According to the latest data, the ten cheapest countries for petrol prices are:
Iran – Rs7.98 per liter
Libya – Rs8.52 per liter
Venezuela – Rs9.76 per liter
Angola – Rs91.58 per liter
Egypt – Rs94.39 per liter
Algeria – Rs94.87 per liter
Kuwait – Rs94.97 per liter
Turkmenistan – Rs119.38 per liter
Malaysia – Rs130.14 per liter
Kazakhstan – Rs131.90 per liter
In contrast, the most expensive petrol prices per liter are found in:
Hong Kong – Rs950.04
Iceland – Rs628.59
Denmark – Rs594.45
Netherlands – Rs575.62
Singapore – Rs574.67
Israel – Rs572.23
Switzerland – Rs543.47
Greece – Rs536.93
Barbados – Rs535.40
Norway – Rs534.74
Global Diesel Price Comparison
The cheapest diesel prices are recorded in:
Venezuela – Rs1.16 per liter
Iran – Rs1.60 per liter
Libya – Rs8.51 per liter
Algeria – Rs59.87 per liter
Angola – Rs61.05 per liter
Egypt – Rs74.96 per liter
Turkmenistan – Rs79.59 per liter
Kuwait – Rs104.00 per liter
Saudi Arabia – Rs123.42 per liter
Ecuador – Rs132.45 per liter
The highest diesel prices are found in:
Hong Kong – Rs925.34 per liter
Iceland – Rs650.21 per liter
Switzerland – Rs575.24 per liter
Denmark – Rs574.96 per liter
Israel – Rs543.77 per liter
Singapore – Rs525.54 per liter
Norway – Rs524.11 per liter
Netherlands – Rs518.03 per liter
Ireland – Rs509.27 per liter
Italy – Rs508.54 per liter
Petrol and Diesel Prices in Pakistan and South Asia
As of February 1, 2025, Pakistan’s petrol price is Rs257.13 per liter, while diesel is Rs267.95 per liter. The country revises fuel prices every 15 days.
In comparison, fuel prices in neighboring countries are:
India (New Delhi) – Petrol: Rs305 (₹94.77), Diesel: Rs282 (₹87.67)
(India adjusts fuel prices daily under the “Dynamic Pricing Method.”)
Bangladesh – Petrol: Rs279 (122 Taka), Diesel: Rs240 (105 Taka)
(Prices are revised monthly.)
Sri Lanka – Petrol: Rs347 (371 Sri Lankan Rupees), Diesel: Rs310 (331 Sri Lankan Rupees)
(Prices are updated monthly.)
Nepal – Petrol: Rs332 (165.50-167 Nepalese Rupees), Diesel: Rs316 (157.50-160 Nepalese Rupees)
(Nepal sets fuel prices differently for three regions, adjusting them monthly.)
Factors Affecting Fuel Prices
Petrol and diesel prices vary worldwide due to multiple factors, including:
Crude oil prices in the global market
Exchange rate fluctuations against the US dollar
Government-imposed taxes and duties
Refining and distribution costs
Pakistan’s fuel price adjustments continue to impact consumers, while neighboring countries have adopted different pricing mechanisms to manage fluctuations.
