The price rise of petrol and diesel has given great relief to the common man. Petrol and diesel prices are estimated to be reduced by Rs. 2 per liter in the next few days. Provided the price of crude oil may come down further, the rupee is not weakened against the dollar. Crude oil prices have fallen by 5 percent in a fortnight. The common man was able to get the benefit of the breakdown of crude oil.
According to reports, finance Minister Nirmala Sitharaman spoke in Parliament on Tuesday on the increased prices of petrol and diesel that it was discussed to bring petrol-diesel under the purview of GST. Sitharaman said that both the centre and the state government levy taxes on petrol and diesel. When the next meeting of the GST Council is held, I will be happy that with the help of the States, this issue should be included in the agenda and then there has been a serious discussion.
Prices started declining: The common man can get the benefit of the fall in crude oil. Petrol and diesel have been cheaper after 24 days on Wednesday. Oil companies have reduced the price of petrol by 18 paise per litre and diesel by 17 paise a liter.
5 percent broken crude oil price: The price of petrol and diesel has been cleared as India's crude cost has come down from $68 a barrel to $64 a barrel in a fortnight. So, which has come down by 5 percent. Brent's sentiment on March 8 was 70 dollars in the international market. According to that, it has come down by 10 percent so far.
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