The government has recently reduced the price of domestic gas cylinders for the second time in 6 months. After which domestic gas cylinder price is lowest in 36 months. And after 30 months it has come down to Rs 900. In such a situation, now the common people of the country are waiting for cheap petrol and diesel.
Petrol and diesel prices in the country have been stable for almost two years. From April 2022, there has been no change from oil marketing companies. While the government reduced the prices of petrol and diesel by reducing taxes in May 2022. Now the government has clarified the situation in this matter. Then an important statement of the country’s Petroleum Minister Hardeep Singh Puri has come out in this matter. Let us also tell you what the petroleum minister has replied on cheap petrol and diesel.
The situation is not good now
Union Petroleum and Natural Gas Minister Hardeep Singh said on Saturday that under-recovery continues on sale of diesel to oil marketing companies. Responding to a question about the possibility of a cut in petrol and diesel prices, the minister said that the decision to cut petrol and diesel prices would depend on the geopolitical situation and the stability of crude oil prices in the international market.
“All I can say is let the situation in the outside world stabilize, let the oil prices stabilize, then this (reduction in petrol and diesel prices) can be seen,” he said. But he also noted the ongoing tensions in the Red Sea. Referring to West Asia, he said that the attacks are currently ongoing there. This has led to an increase in the cost of insurance and replacement of goods. Due to which instability is being seen in the energy market.
Cut taxes twice
He also said that the central government has reduced petrol and diesel prices twice from 2021 by reducing excise duty in November 2021 and May 2022. Excise duty on petrol has been reduced by Rs 13 per liter and excise duty on diesel.
He said that on both occasions, the Center lost revenue of around Rs 2.2 lakh crore due to tax cuts. He said that despite the decline in production, the price of crude oil has not increased in the global market. This means that the global oil market is absorbing it. Crude oil from the Gulf countries closed at $82.08 a barrel on the Intercontinental Exchange on Friday, down 1.06 percent from the previous close.
Domestic gas cylinder became cheaper
The government has reduced the price of LPG cylinders by Rs 100 from Saturday. The move comes days before the election dates are announced by the Election Commission of India. Regarding this, Hardeep Singh Puri said that during the Cabinet meeting yesterday, PM Modi had announced that the LPG cylinder subsidy, which was supposed to end on March 31, would be extended till 2024-25. Yesterday, on International Women’s Day, PM Modi announced a Rs 100 reduction in LPG cylinder prices.
Puri further said that from September 2021 to September 2023, the price of a cylinder in Delhi has decreased by 4.56 percent. There was no problem anywhere regarding cylinder availability. When the floods hit the North East, our workers personally delivered the cylinders.
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