The taxation on petrol and diesel fuels in India has reached threshold level. The audience is faced to pay those turbulences that are manhandled in the governments’ machinery handling such resources. To flab them down, sources claimed Indian government is trying to reduce the prices of diesel at least, which may pass on the benefits to peasants and working class of the nation. In actual, the official authorities have deregulated the subsidy and rested the power with private entities to control the prices of petrol. This isn’t the case with diesel. Here, the subsidy is still continued. And the government had consecutively raised prices of diesel since January this year in order to keep the gap between petrol and diesel minimal.
With oil companies updating prices every 15th and 30th of month, this time the prices of crude oil has dropped below $100 the first time this year. During such scenario when the rupee is strengthening, government showed interest to revive the diesel prices which means the mercury may settle down for some time at least. If the prices would be lowered, then this will be the first time in the past seven years where the tags aren’t deregulated of the particular fuel in the tenure. Hence, diesel prices were discouraged by a slight margin on July 25’ 12, but this time it’s going to be remarkable that may sent good vibes to the automaker for cashing on the upcoming festive season.
Stay tuned for the celebrations…
Source: ET
