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  • Category: Miscellaneous

    Fuel prices are touching the sky.

    The petrol and diesel rates touched the highest in the last three years. Within ten days the prices of petrol and diesel shoot up to rocket heights without knowing. The crude oil rate is increasing and hence the petrol and diesel rates are also increasing. Within the last 3.5 years only once there is a reduction in the price of these commodities. In addition to the price of crude oil, the central government and state governments are adding different taxes which are causing an abnormal increase in the prices. I feel the central government should reduce some taxes on these items or these items also should be brought under GST with 28% maximum tax which will give good saving to the consumer.
  • #623299
    The price of fuel oil is dependent on the global oil prices which are unfortunately at the present juncture increasing.

    Govt can subsidize it to some extent but if the prices increase like that in the international market there will be no alternative except increasing the domestic price.

    The consumption of this commodity in India is very huge and all the costs are directly or indirectly related to it. It may spark a rise in the prices of other items also.

    Knowledge is power.

  • #623309
    This Government is elected for the development which did not happen during the past 70 years except for a short bright spot. Development means investment. Investment requires money. The Government gets the money by taxing people. Since the Government is taking long-term policies, we can't immediately benefit from them. We have endured the hiked rates on petroleum products for a long time. Can't, we wait for ten or fifteen years more? After all, we may have to spend a few hundred rupees per month extra. This is not a big amount considering the development of the country. Let us be patient and let us not complain. The Government is helpless as the State Governments are not reducing their taxes on the petroleum products.
    " Be Good and Do Good "

  • #623536
    Yes, prices are high which reflects the rasing prices or increasing demand or shortage in supply of crude oil. But apart from this it also relfects the hidden issue. The issue is the amount of comission that is paid to the dealers who sell petrol. I read a news artcile sometime last year wherein the over a 13 year period, the commission paid has tripled for petrol and for diesel it has quadrupled.This may not sound like a sizeable amount but if you see the volumes then it would be higher.
    @KVRR, valid point highlighted, state governments also earn by taxes, The only easy option would be for the central government to give subsidies like they did for the LPG cylinders but it may be a logistical nightmare how to decide, whom to give it.

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