With the recent hike in gas (petrol) price in India, a liter of unleaded gas is around INR 68 in Chennai. How do we compare with other places? Here is one sample from my recent travel. Last week I filled gas near San Francisco Airport for USD 4.35 a gallon.
With little bit of math (1 US gallon = 3.78 liter) it comes to around INR 52 per liter. California which has perhaps the highest gas price in USA is still cheaper than Chennai.
Gas price in India has been moving at regular intervals, set by the oil companies (with the Govt. approval of course..). Why not peg the price to the international crude oil price (like the Gold metal) and bring in some amount of transparency to the price of the gas at the pump?