Petrol and diesel prices reduced by ₹ 7, know how much benefit to consumers Petrol Diesel Price

Petrol Diesel Price: The central government and oil companies have given great relief to the common people before the festivals.The price of petrol and diesel has been announced by about ₹ 7 per liter.This will directly affect every person who travels by car or whose everyday life depends on fuel.This deduction will not only benefit the vehicle owners but will also reduce the cost of transport and daily needs.

New rates in major cities

According to the new rates, petrol in Delhi is now available at ₹ 96.72 per liter and diesel ₹ 89.62 per liter.The price of petrol in Mumbai is ₹ 104.21 per liter and diesel is ₹ 94.27 per liter.Fuel prices have also decreased in other metros like Kolkata and Chennai, although there is a slight difference in prices due to local tax.However, consumers have to spend less for petrol and diesel than before.

Why did oil prices come down?

This decrease in fuel rates has not occurred suddenly.Changes in the international market behind this are the main reasons.

Impact on transport and daily expenses

The transport sector will get the biggest benefit from decreasing diesel rates.Vehicles like trucks, buses and taxis will run on cheap fuel, which may reduce fares.Due to decrease in the cost of freight, the prices of food grains and other essential items are expected to be reduced.This change will also have a positive effect on inflation.When transportation is cheaper, the prices of goods in the market may remain stable or decrease to some extent.This will increase consumer expenses during festivals and will return to the market.

Role and tax of states

Although the central government has reduced the rates, the taxes of the state governments also affect the prices of petrol and diesel.If state governments reduce VAT or other taxes, consumers will get more relief.Due to the different tax structures of the states, fuel is still cheaper and somewhere expensive.

future prospects

Experts say that if the international market remains stable, then fuel prices may decrease further in the coming time.But it will depend on how much oil producing countries increase or reduce production.Prices may increase again if production decreases.