10 Countries with Cheapest Petrol Prices

Bangalore: With the advent of technology, life has become so much easier for all of us. Not long ago people used to wait for days to receive message from near and dear ones. But now, the time taken to travel from one place to another is less than time required to send a letter via post. However, with the ease of transport came the blow of rising fuel cost. The cost of fuel is the most unstable thing across the world and it depends on crude oil price, oil company cost, taxes and, exchange rate, reports Rediff.com.

Because of the presence of considerable oil reserves in home-grounds, few countries are fortunate enough to get this motor spirit at affordable prices. Read on to know the countries where petrol is cheapest in the world -

1. Venezuela

Price per litre: 6.49 ($0.12)

It is a place where the price of most of the objects goes up other than petrol. The price of petrol has always been cheap and now it has become almost free. In Venezuela, following the official exchange rate, the premium gasoline comes at around 5.8 U.S. cents. The price of petrol has been kept constant for almost 14 years under the rule of late President, Hugo Chavez, even though the tropical capital has hit big time inflation.

Monthly income expenditure on petrol:  2.73 percent

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