Assocham says, due to tax there is increase in petrol and diesel prices
Assocham says, due to tax there is increase in petrol and diesel prices

Petrol and diesel prices in the country have reached the highest level of 3 years, so consumers are worried. They believe that the concept of market-based prices has no meaning when the tax on these products is being manipulated repeatedly. 

When crude prices are falling continuously, prices of petrol and diesel are increasing in the country, while in May of 2014 crude prices were $107 per barrel, at that time gasoline was available at cheap cost. It is true that in the last three months, crude oil prices have increased from Rs 45.60 per barrel to 18% so far, which results in the increasing price of petrol in Delhi rising from Rs 65.40 to Rs 70.39 per liter.

Assocham notes, "When the price of crude oil was $107 a barrel, it was being sold at Rs.71.51 per liters in the country. Now when it has come down to $53.88 a barrel, then the consumer will definetly ask for the price to b reduced by selling the petrol at Rs.40 per liters. "

It has been said that although prices have been left on the market, due to the sharp increase in product tax and sales tax or VAT due to the Central and State Governments, there has been no meaning for improvement. Assocham Secretary General DS Suresh Rawat said, "There is no mistake of consumers because reform cannot be one-sided. If crude prices fall, then its benefits should be given to consumers."

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