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LPG Price: Most Expensive LPG in the World Now in India!

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Petrol, Diesel, LPG or CNG, the prices of all these fuels that propel your vehicle of life have increased very rapidly in the last few days. But do you know that the most expensive LPG in the world is now available in India? But how can this happen… Let’s understand this whole math…

Most Expensive LPG

If the world’s most expensive LPG is found in India, the answer will be seen by calculating it according to the ‘Purchasing Power of Currencies. But for that, we have to understand many things related to the international economy. By the way, let us say that according to this calculation, the price of petrol in India is the third-highest per litre price in the world, while in the case of diesel, we are at number 8 in the world.

If we understand the ‘purchasing power of currency’ in simple language, we can buy more goods in Nepal than we can buy in one rupee in our country. In contrast, in America, we cannot buy anything for one rupee. This means that their purchasing power determines how much and what goods can be purchased from each currency or currency in their domestic market. The purchasing power of the money of different countries is different. But the purchasing power of the currency changes as soon as it goes to the international market.

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How is it calculated in the international market?

Whatever trade happens in the international market between the world’s currencies is done at a nominal exchange rate. Accordingly, the purchasing power of a country’s currency is decided. At the same time, there is a lot of difference in the income of people in every country. For an average Indian, buying a litre of petrol in India can be a quarter of his daily income, while for an American just a part of his daily income.

In this way, the formula of Purchasing Power Parity is decided, which tells how much purchasing power of a citizen of a country remains in another country. For example, if you understand the life you can live for 100 rupees in India, you will need $ 4.55 (about Rs 345 according to the nominal exchange rate) to live the same life in America. On the scale of purchasing power parity, instead of Rs 75.84, $1 has a value of only Rs 22 in the international market.

Purchasing a litre LPG of $3.5

According to this formula of power parity, when you calculate, you will find that we Indians are buying the most expensive LPG in the world because we are paying 3.5 dollars in international dollars for it. The price is lower than ours in Turkey and Fiji country. An average Indian pays $5.2 for petrol and $4.6 for diesel.

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Geeta Kumar
Geeta Kumar
Geeta Kumar is Our Digital Media Specialist at Spot News 18. She Manages our Digital Media Account Globally. She loves to be connected on Social Media.

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