An Oily Affair!

Inflation is hurting us all.
So is the oil price! Last time I checked mustard oil is 94Rs/L! And my "Rannar Lok" [Glorified title is "Cook"] thinks I am related to Sultan of Brunnei! She generouly puts oil in everything she cooks. I was terrified to eat her "Elish Bhapa"[Steam Hilsha]! It was like boiled fish in raw oil!

I am trying to forget my favorite dish "Aloo-Posto"[Potato with Poppy seeds]. Posto-bara[A snack from poppy seeds] is a distant dream. "Posto" is 560Rs/Kg! Somebody somewhere has gone crazy! Are they mixing gold dust with poppy seeds?!! I wonder!

And what about petrol? At 56-58 Rs it's making the decision to buy a new car very tough!
Did a little research on fuel prices around the world:

Country____________$/L__________ Rs/L

Australia ___________1.52_________ 64.3
Bahrain (Manama) ____0.27 _________11.4
Belgium (Brussels) ____2.48 _________104.9
Brazil (São Paulo) _____1.59 _________ 67.3
Brunei _____________0.39 _________16.5
Canada ____________1.324 _________56
Chile ______________1.27 __________53.7
China _____________0.806 _________ 34
Colombia ___________1.07 _________45.26
Croatia ____________1.95 _________82.5
Cyprus ____________1.87 _________79.1
Denmark (Copenhagen)_ 2.46_______ 104
Dominican Republic ____1.51 ________63.9
Egypt (Cairo) ________0.32 ________13.53
Eritrea _____________2.53 _______107
Estonia _____________1.79 ________75.7
Finland _____________2.35________99.4
France _____________2.13 ________90
Germany ___________2.43 _______102.8
Greece _____________1.95 ________82.5
Guatemala __________1.95 ________82.5
Honduras ___________1.07________45.3
Hong Kong __________ 2.20 _______93.06
Hungary ____________ 1.985 ______83.9
Iceland _____________2.25________95
India (NOIDA) ________1.36 _______56
Indonesia ____________0.65 ______ 27.5
Iran ________________0.11 _______4.653
Ireland ______________2.13 ______ 90
Israel _______________1.9 ________80.37
Italy _______________2.32________ 98.14
Japan ______________1.60 ________67.68
Kuwait (Kuwait City)____ 0.21 ________8.88
Malaysia ____________0.84 ________ 35.53
Mexico (Mexico City) ___0.62 ________ 26.23
Moldova (Chisinau) _____1.24 ________ 52.45
Monaco _____________2.20 _________93
Netherlands __________2.67 _________113

New Zealand _________1.62 _________68.5
Nigeria (Lagos) _______0.595 ________25.17
North Korea _________1.19 _________50.34
Norway (Oslo) ________2.73 _______ 115.5
Pakistan ____________1.22 _________51.6
Peru (Lima) _________1.609 _________68

Philippines (Cebu) _____1.22 __________ 51.6
Poland (Krakow) ______2.06 __________87.14
Portugal ____________2.42 _________102.4

Qatar (Doha) ________0.22 ____________9.3

Romania (Bucharest) __1.78 ____________75.3
Russia (Moscow) _____1.08 ___________ 45.6

Saudi Arabia (Riyadh) _0.12 _____________5.076

Sierra Leone ________4.87 ___________206
Singapore __________1.82____________ 77

Slovenia ___________1.92 ____________81.2
Sri Lanka__________ 1.46 ____________ 61.7
South Africa ________1.47 ____________62.18
South Korea ________1.95____________82.48
Spain (Madrid) ______2.14 ____________90.5
Sweden ____________2.30 ___________ 97.29
Switzerland (Zurich)____1.88 ___________79.5
Thailand ___________ 1.21 ____________51.2
Taiwan ____________1.05 ____________44.4
Trinidad and Tobago ___0.48 ___________20.3
Turkey ____________2.68 ___________113.4
Turkmenistan ________0.08 ___________ 3.38
UAE ______________ 0.37 ___________ 15.65

Ukraine ____________1.38_____________58.4
United Kingdom ______2.33 ____________ 98.56
United States ________1.03 ____________ 43.5
Uruguay (Montevideo) _1.6 ______________67.68
Venezuela (Caracas) ___0.03_____________ 1.269
Vietnam ___________1.13 _____________47.8

In some countries oil price is amusingly low!! Like Venezuela it's 1.269Rs/per L !! Those countries like Saudi Arabia, Venezuela, Qatar, Kuwait, Brunei, Bahrain etc are big oil producers. They have kept oil price low in their countries. But in other countries who have to buy oil, why there is so much difference? Export costs are different. But the main reason is the tax system.
Also another fact is, oil price is 43.5 Rs/L in USA. That is much lower than India and Europe. Though US is the one of the biggest oil producer, it's the biggest oil importer and user!! Approximately it produces 8.3 million barrel oil and consumes 20.58 million barrels per day! Compare it to India, India needs about 2.53 million barrels per day! US use about 8 times more oil than India!!
China uses about 7.27 million barrels per day. So in near future India will need that kind of amount and China's oil consumption will be near US.

So where is oil price heading?