Big relief: Petrol and diesel may be cheaper by tomorrow, government may announce
The rising prices of petrol and diesel will give great relief to the people suffering from it. Petrol and diesel may be cheaper since yesterday. The government is working with the oil companies to create a new plan for this. According to information from sources, Petroleum Minister Dharmendra Pradhan has a meeting with the oil companies on Tuesday evening. In this meeting a new formula can be taken to prevent rising prices. However, it is not yet decided whether the option will be available for cheaper petrol and diesel. But there seems to be some relief. Now daily oil companies revive petrol and diesel prices.
Will reduce excise duty or lower prices?
Petroleum Minister Dharmendra Pradhan has been continuously advocating the prices of petrol and diesel in the realm of GST. But, state governments are not ready for this. Reduction of excise duty will not have any special effect and this will also increase the burden on the public exchequer. Because, prices of petrol and diesel are currently at record highs. So petroleum ministers can ask themselves oil companies to bear the burden and the daily prices will not change.
Petroleum Minister has given a hint
Two days ago, Petroleum Minister Dharmendra Pradhan had said that soon the government will get the solution of rising prices. He said, "I accept that the citizens of the country, especially the middle classes are disturbed by the increase in fuel prices." However, the US has drawn a nuclear deal from Iran, since then the international crude oil prices have increased in the international market. Price has been increased due to lower oil production in OPEC countries and the rise in crude oil prices in the international market.
— ANI (@ANI) May 20, 2018
I accept that citizens of India& specially middle class suffers due to fuel price hike. Factors like less production of oil in OPEC countries & hike in price of crude oil in intl market affect price. Indian govt will soon come out with a solution: Union minister Dhamendra Pradhan pic.twitter.com/wx7ReBLLS8— ANI (@ANI) May 20, 2018
Why is petrol diesel expensive
The price of petrol and diesel is increasing due to the rise in oil prices in the international market since last 4 weeks. According to local sales tax and VAT, prices of petrol and diesel vary in every state. Compared to the capitals and metros of all the states of the country, the prices are still the lowest in Delhi.
Prices rising continuously for 9 days
With an increase of 30 paise on Tuesday, the highest level of petrol in Delhi reached 76.87 rupees. Earlier, the highest price of petrol in Delhi was 76.06 rupees on September 14, 2013. Apart from this, diesel prices have also reached their highest level so far. Prohibition of price fluctuations since 19 days before the Karnataka elections ended on May 14 and since then the prices have continued to rise in 9 days so far.
Prices of petrol & diesel touch Rs 84.70/litre & Rs 72.48/litre in #Mumbai respectively; locals say, 'petrol & diesel prices are increasing every week. Prices here are much higher than other states. How are we supposed to survive in this situation' pic.twitter.com/nnKdpugYfA— ANI (@ANI) May 22, 2018
Petrol is the most expensive in Mumbai
The price of petrol in the country's financial capital Mumbai is highest at Rs 84.70, while in Bhopal, the price is Rs 82.46 per liter. Petrol is being sold at Rs 82.36 in Patna. In Hyderabad, 81.39 and in Srinagar, petrol is getting 80.98 rupees. 79.53 in Kolkata and 32 paise in Chennai is selling for petrol in 79.79 rupees. Petrol is the cheapest in Port Blair, where petrol is getting 66.01 rupees.