Indian fuel prices fourth highest among top 10 crude oil consuming nations

All countries have access to the same global price for crude oil, but retail prices in each depend on taxes

At a time when petrol and diesel prices have hit record high, an analysis based on data compiled from various online sources reveals that petrol and diesel prices in India are not only the highest in this region but also fourth highest among the top 10 crude oil consuming nations in the world. 

India is, says the US Energy Information Administration, the third largest consumer of crude oil in the world at 4.14 million barrels a day (mbd), about four per cent of global consumption. The US (19.53 mbd) and China (12.02 mbd) are the top two. 

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