The rising prices of petrol and diesel every day have put more burden on the people of the country facing inflation. The situation is such that their prices have been increased 14 times in 17 days. However, now a report quoted sources as saying that the central government has prepared a big plan to give relief to the general public from the rising prices of petrol and diesel. It has been said that their prices may remain stable for the coming few days.
Guidelines are given to oil companies
Sources in the report have said that under the scheme prepared by the government to provide relief to the general public amid rising oil prices, the prices of petrol and diesel may remain stable again. According to sources, such guidelines have been issued by the government to the major oil marketing companies in the country. Apart from this, there is also a possibility that if the prices of crude oil do not come down at the international level and the prices continue to rise like this, then the government can also take steps to cut the excise duty on petrol and diesel. So that the burden on the general public can be reduced. According to the report, the government has also asked the states to cut the VAT charged on petrol and diesel.
More than Rs 10 increase in 17 days
Significantly, there was no change in the prices of petrol and diesel in the country on Thursday. At the same time, till Wednesday, it had been increased 14 times. The prices of both were increased by 80-80 paise per liter last season. In these 17 days, the price of petrol and diesel has increased by more than Rs 10. Meanwhile, fuel prices remained the same for only three days March 24, April 1, and April 7. On Thursday, the price of one liter of petrol has reached Rs 105.41 in Delhi, while the price of diesel is being sold at Rs 96.67 per liter.
Petroleum Minister gave the assurance
It is worth noting that even in the past, when the opposition had targeted the government over the oil prices, Petroleum Minister Hardeep Singh Puri had defended the government over the increase in fuel prices, saying that it was due to the increase in prices in the international market. Has happened. However, he assured that efforts are being made to provide fuel at affordable prices to the people of the country.
The impact of the rise in crude oil
According to experts, rising crude oil prices also affect the prices of petrol and diesel in the country. Let us inform you that in the past, the price of crude oil in the international market had reached its highest level since 2008 at $ 139 / barrel. However, after that, there was a decrease in it, but for the time being, its price has remained consistently above $100 per barrel. Commodity experts say the crisis in crude oil prices has been exacerbated by the ongoing war between Russia and Ukraine. He said that if the situation continues like this for a long time, then the people will have to bear the burden of more inflation.
15 to 22 rupees can be expensive
Talking about the reports in the past, it was speculated by many that instead of increasing the price of petrol and diesel completely, it was speculated that the oil companies will increase the price gradually to compensate for their losses. It was estimated in the report that the price of petrol and diesel in the country could be increased by Rs 15 to 22 respectively in the coming days. Meanwhile, let us tell you that because of the increase in the price of petrol and diesel in the country, many rating agencies have also reduced India's GDP growth estimate, citing the threat of inflation.
heavy losses to oil companies
Earlier reports had said that the rise in crude oil prices due to the ongoing war between Russia and Ukraine has been very harmful to Indian oil companies. In this new report by Moody's Investors, it was said that keeping the prices of petrol and diesel stable despite the rise in international crude oil prices has been a burden on the oil companies. It has been estimated in the report that due to this, the oil companies suffered a loss of Rs 19000 crore in March alone.
This is how the prices are fixed
Let us tell you that the prices of petrol and diesel change every day at 6 am. The new rates are applicable from 6 am onwards. After adding excise duty, dealer commission, and other things to the price of petrol and diesel, its price almost doubles. Based on these parameters, oil companies do the work of fixing petrol rates and diesel rates daily. Dealers are people running petrol pumps. They sell petrol themselves at retail prices to the consumers end after adding taxes and their margins. This cost is also added to the petrol rate and diesel rate.
Also Read: Mega-Merger HDFC and HDFC Bank will merge, under this deal HDFC will have a 41% stake in HDFC Bank
45 sixes, 40 minutes of bowling: Is Abhishek Sharma eyeing a spot in the Indian ODI team? He's using the Vijay Hazare Trophy as his platform.
Abhishek Sharma, a rising star in the Indian T20 team, no longer wants to limit himself to the shorter formats. Having established himself with his explosive batting in T20 international cricket,
Indian rupee stings in the world: Many countries have approved transactions in Indian currency, know how it benefits you
The Government of Sri Lanka has also approved the Indian Rupee as an international currency. Now trade between India and Sri Lanka will be possible in Indian currency. Not only this, Indian citizens
Thailand Tour: Indians will now be able to go without a visa; Exemption will be given by May 2024, the government announced this
There is good news for people planning to travel from India to Thailand. They will no longer need a visa to visit Thailand. A Thailand government spokesperson has said that visa requirements will be
PBKS vs LSG: Thanks to Stoinis-Meyers, Lucknow made the second highest score of IPL, defeated Punjab by 56 runs
In the 38th match of IPL 2023, Lucknow Super Giants defeated Punjab Kings by 56 runs. Batting first after losing the toss, Lucknow scored 257 runs losing five wickets in 20 overs. Marcus Stoinis
Bangladesh Violence: Mohammad Yunus' government spewed venom against India! Said- 'Controversy can cause harm'
Bangladesh and India's relations have been witnessing tensions in recent times. Bangladesh's interim government has alleged that India's political leadership is using issues related to Bangladesh for
People above 18 years will get booster dose free of cost, new railway project also approved; Big decisions of Modi cabinet
People above the age of 18 years will be able to get the precautionary (third dose) of the Covid vaccine free of cost at government immunization centers in the country. This decision was taken in the
Rahul's speech among Indians in Britain: I can speak here but am not allowed to raise the issue of Chinese intrusion in the Indian Parliament
Congress leader Rahul Gandhi surrounded the Modi government on Sunday by raising the issue of China in Britain. Rahul said that the opposition is not allowed to raise the issue of the intrusion of
Lula da Silva will be the new President of Brazil: 50.90% of the vote, campaign to end corruption in the election field was launched
Lula da Silva will be the new president of Brazil, the largest country in Latin America. He has defeated the incumbent President Jair Bolsonaro. Lula belongs to the Left Workers' Party. According to
Hooliganism by MNS workers in Mumbai, a man from Rajasthan, beaten for posting a WhatsApp status; paraded too
Raj Thackeray's party, Maharashtra Navnirman Sena (MNS), is once again in controversy, and this time, a party worker beat up a Rajasthani man because of his WhatsApp status.
Delhi Election: 'He considers himself a symbol of Muslim appeasement but...', Giriraj Singh hits back at Owaisi's statement
In the statement of AIMIM MP Asaduddin Owaisi, Union Minister Giriraj Singh said, "He is not able to cover any topic other than Muslims. He considers himself a symbol of Muslim appeasement. The
