The international prices of fossil fuel and crude oil have been on a steady decline. These prices affect us, as we buy from other countries. However, the newly appointed Modi Government has witnessed a dip in prices and has passed the benefits to every Indian.
The Government took a decision of decreasing petrol prices to a further Rs. 1.82 per litre. Petrol pumps will abide by the new pricing from Sunday morning itself. It will be a pleasant surprise to many as they realise drop in prices, when they get back to work on Monday.
The crude oil prices have hit an all time low, since the past 13 months. The Oil Ministry had reduced prices of petrol on 15th August, 2014. Prices were reduced by almost Rs. 2.36 across the country. However, this time they have reduced it further by Rs. 1.82 per litre.
Diesel prices have not been reduced and it has been further increased by 50 paise a litre. The Government has opted not to decrease prices of diesel across India. We had earlier reported the Government plans to regularise diesel and get prices on par with international prices of the fuel.
The Government of India has also decided to pass benefits of decrease in fuel prices by reducing the price of LPG. The gas used for cooking food in every household of India has been reduced by Rs. 19 per cylinder. The new LPG prices will also be applied to non-subsidised cylinders.
Bulk prices of diesel have been reduced by Rs. 1.32 a litre in Delhi. The bulk diesel is used by defence vehicles, railways, and state road transport corporations. All of them are permitted to pay for diesel at its market price, making it cheaper.
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