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Petrol-Diesel Rates Cut: There is a chance that the common people of the country will get a good boon very soon. Ahead of the general elections in a few months, the ruling BJP government at the Center is likely to take a crucial decision to woo the people.
According to some officials, the central government is trying to reduce the prices of petrol and diesel (petrol, diesel prices today). There have been reports in the national media that government sources have said that an announcement will be made by the central government on the reduction of rates.
Rs.10 discount per liter!
According to a section, on two fuels the maximum Rs. Cuttings are likely to fall in the range of 4-6. According to another group, per liter Rs. It can be reduced to 10.
Crude oil prices have been in the range of 70-80 dollars per barrel for the past three months. So, this is an opportune time for the central government to reduce fuel prices.
State-owned oil marketing companies Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have made huge profits in 2023 due to low international crude oil prices at present. On the pretense of recouping the losses incurred in the previous years, this year despite the fall in international rates, the prices in India continued to remain high.
Currently, the central government is in talks with oil marketing companies (OMCs). It seems that discussions are going on on the proposal that if the rate is reduced, the central government-OMCs will bear 50-50 of it.
If the fuel prices come down, the financial burden on the people of the country will be reduced significantly. First, transportation costs are reduced. As a result, food prices will come down. It will also moderate retail inflation in India, which rose to a three-month high of 5.55% in November.
File of petro rates on Prime Minister’s table
Union Ministry of Petroleum and Finance Ministry have already completed discussions on fuel prices. Some options regarding petrol and diesel rate cuttings have been sent to the Prime Minister’s Office. An official announcement will be made after considering those options and taking a decision from Prime Minister Narendra Modi. It will be known to what extent petrol and diesel rates will be reduced. The Ministry of Petroleum and the Ministry of Finance hold discussions on fuel prices every 15 days.
In the last two years (November 2021, May 2022), the central government has reduced fuel rates in two installments. Combined in two installments… Excise duty on petrol will be Rs. 13 & on diesel Rs. 16 has been reduced. As a result, oil prices fell.
With the reduction of tensions in the Red Sea and the increase in reserves in the US, oil prices have been falling heavily in the international market for the past few days. Today (Friday, 29 December 2023) also fell by 3%. Currently, WTI crude oil price rose $0.19 to $71.96 a barrel, while Brent crude oil was down $2.24 to $78.39 a barrel.
Another interesting article: Petrol and diesel prices changed in Telugu states – these are today’s rates
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