Petrol and Diesel, prices soaring!

Crude oil and petrol prices are on an all-time high in recent years. Coming on age decline of the rupee, the common man is facing a dilemma whether to choose vehicle transportation or the public. Consequently, even public transports rely on petrol, so even there would be a considerable hike. Unless one has to rely completely on railways or locals(Mumbai mostly), the arrival of metros isn't even promising in several parts of the country.

Current Status.

The rising in petrol price is repeating itself in the current fiscal. The oil and diesel prices rose to 23 paise and 22 paise on 10th of September 2018. Additionally, there were several hikes in a span of two years, putting a lot of pressure in the middle and lower class section.

The economic capital records the highest selling of petrol and diesel with prices touching as high as 88.12 per liter of petrol. Diesel prices touched to 77.32 on 10th of September 2018. Similar was the case in New Delhi, the capital city where petrol is currently at 80.73 and diesel at 72.83. Ordinarily, Maharashtra government proposes a heavy tax which adds up doubling the rate of petrol and diesel.

Relief in some States!

Southern and northwestern states in a move to help people withstand the terror have cut down taxes to bring their prices on petrol and diesel stable. Andhra Pradesh decides to bring down rs 2 per liter, while Rajasthan has cut down state taxes by 4 percent.

On the contrary, the central government has been adamant in not making any move to cut down the prices. Commenting on the rising prices, the central probe hopes to stabilize the prices in near future.

The Rising Price!

The main reason for the rising base prices (apart from taxes) is the falling value of rupee and rising international price of crude oil.

Additionally, the US sanctions on Iran is fearing itself to end up catching less in global supplies more so than other producers can make up around the world.

This largely puts pressure on the common man, who is fighting to strive across all sectors, with minimum wage. Oil and Gas Market Research Reports points with less reliability in public transports, it is a nightmare to drive vehicles operating on petrol and diesel.

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