Hope for relief on petrol and diesel: The government made this big plan, prices may remain stable for a few days

Posted on 7th Apr 2022 by rohit kumar

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.

 

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