Petrol, diesel set to get cheaper, but Modi govt has already taken the money from you


Petrol, diesel set to get cheaper, but Modi govt has already taken the money from you

Petrol and diesel prices are likely to fall in the coming days as international crude prices continue to fall. However, the fall in petrol and diesel prices may not bring much cheer to the public, as the government has already made the fuel that much more expensive for consumers.

Petrol and diesel prices shot up by Rs 2.5 per litre immediately after the government raised cess and excise duty by Re 1 per litre each in the budget. VAT by the states has also been marginally increased. Petrol in Delhi was selling for Rs 73.41 per litre and diesel price was at Rs 66.29 per litre on Thursday.

“India’s oil basket primarily depends on two factors, which are the crude price in the international market and the dollar conversion rate. It takes 18-20 days for the retail market to reflect the decrease in crude prices,” said Ajay Bansal, President, Read More

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