The government has pinned the blame on the ongoing Russian invasion of Ukraine as the primary reason for the steep rise in the domestic fuels including petrol, diesel, and LPG (Liquid Petroleum Gas), but there is more it than what meets the eye.
Based on Purchasing Power Parity (PPP) dollar estimation, the LPG per litre price in India is said to be the most expensive compared to any other country in the world, The Times of India reported.
For the uninitiated, PPP, as the name suggests, shows us how much local currency can get you a commodity. For instance, the one dollar, based on the latest foreign exchange rate is around Rs 75.85.
