Cylinders and milk are already expensive, and now petrol and diesel too… How much will the price rise affect your pocket?:
Now the impact of the ongoing war in West Asia has been felt in India. On Friday, the prices of petrol and diesel increased by Rs 3 per liter. Petrol prices increased to Rs 97.77 per liter in Delhi, Rs 106.68 per liter in Mumbai, Rs 108.74 per liter in Kolkata and Rs 103.67 per liter in Chennai.
In the last 15 days, the prices of many things have increased. In addition to petrol and diesel, the price of CNG in Delhi and Mumbai has increased by Rs 2 per kg. Commercial cylinder price has increased by Rs 994 and 5 kg cylinder by Rs 261. Amul and Mother Dairy milk prices have increased by Rs 2 per liter.
The prices of petrol and diesel directly affect the common man’s pocket and kitchen. Diesel prices will also increase prices of other goods. Freight charges will also increase. Will increase transport and temp fare, this will increase the prices of vegetables, fruits and other food items brought from other states.
Impact of inflation on the pocket of the common man
The cost of farming will increase. Will increase the expenditure for farmers on tractors and pumping sets, which will also increase the cost of grain. Prices of buses and auto fares will also increase. School bus fares may also increase.
In this price hike, the common man of the country is unhappy. In the country’s financial capital, people in Mumbai expressed their unhappiness and stated that in the time of such inflation, running the house would become more difficult. People are of the opinion that only poor and middle class will be more affected by this inflation and the prices of every item will increase. The government should do something about this.
The prices of petrol, diesel and CNG have increased in the country. The public states that their pocket has been severely affected by this. People filling petrol and diesel at Atal Chowk petrol pump, Jaipur, said that their budget was disturbed due to this and the fares of Ola and Uber have not increased yet. The cost will be incurred due to the rise in the rate of petrol and diesel. People at Hazratganj’s Atal Chowk petrol pump in Lucknow stated that a crisis exists all over the world, so increasing the price by three rupees makes no difference. Diesel costs Rs 90.81 per liter.
From petrol and diesel to the kitchen
The prices of petrol and diesel remained stable for some time in the country. The government reduced the prices of petrol and diesel by Rs 2 per liter just before the 2024 Lok Sabha elections and gave a relief to the public, and had not increased the prices since then. On Friday, the price of petrol and diesel became more expensive by Rs 3 per liter. Experts say that according to the international market, the prices of oil are expected to increase further. Now the question arises, why have oil prices increased?
The only and major reason for the increase in petrol and diesel prices is the tensions between America and Iran, which has caused crude oil prices to fluctuate in the international market. Since 90% of crude oil required for the country comes from the international market and 50% of it comes from the Strait of Hormuz, where oil tankers are blocked from passing by the US-Iran war.
Crisis in West Asia and the oil game
Before the start of the war between Iran and America, crude oil price was $70 per barrel but now it is over $100 per barrel, due to this crude oil is being bought at a high rate by oil companies and this is causing loss. To compensate this loss, oil companies have increased oil prices. If the crude oil price continues to increase in the international market, the prices of petrol and diesel may increase.
While the world and the international market have caused the oil prices to increase, on one hand the opposition of India is targeting the government. While criticizing the Modi government, Leader of the Opposition in Lok Sabha, Rahul Gandhi, tweeted that the public would pay for the fault of the Modi government and the installment of the price shock will come gradually, and it has already come by 3%. Akhilesh Yadav of Samajwadi Party also targeted the Modi government through a cartoon on social media, stating that now if the country has to progress, bicycle is the only way.
Will oil prices rise further?
According to the BJP, the war has caused the prices of global oil to rise. As a result, in neighboring countries like Pakistan, Nepal and Sri Lanka, the prices of petrol and diesel have increased by 15 to 20%, but people have not had to pay the price for it in India. In contrast, in Australia and Germany, excise duties have been reduced by up to 50%, which has led to a reduction of up to Rs 17 in petrol and diesel prices.
On the other hand, the reduction in the price of petrol and diesel by Rs 10 each in the special excise duty of petrol and diesel has also provided relief to the public for some time, in which the duty on petrol was reduced from Rs 13 to Rs 3 and on diesel it was reduced from Rs 10 to Rs zero. But despite the special excise duty, the prices had to be increased.
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