petrol prices in USA has touched $ 4 a gallon or Rs 44/- per litres .. Note that In USA petrol prices are fixed daily and pegged with international crude prices . So in USA the petrol is sold @ 44 /- per litre which is lower than INDIA where it is sold @50+ level... SO still Indian govt is making profit of 10 RS per litre .. the tax component is more than 60% .. so in one hand they are taxing petrol and on other hand they are subsidising it . SO no need to flow tear for the GOVT as they still making profit on petro products
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