Petrol & Diesel Prices in India have seen a phenomenal downfall post the excise cut introduced recently in 2017. The prices of the Petrol & Diesel have fallen approximately by Rs. 2 per litre which is a great step towards the welfare of the common public of many regions where the Petrol & Diesel Prices have slashed steeply in no time.
As the post effects & consequences of the cuts introduced in the excise duty, the sharp drop observed in the Petrol & Diesel Prices in many regions has brought a sigh of relief to common people who had to burn their pockets to get their vehicles fuelled after every alternate day. Read on to gather more on the sharp drop in the current Petrol & Diesel Prices in India post excise cut.
Petrol & Diesel Prices Slashed In India | Know Reasons & Revised Rates Here
Slashing of the Petrol & Diesel Prices in India being one of the most welcomed effects of cutting down of excise duty has certainly provided a re-assurance of better days in future ahead. The move has been welcomed by all as the revised rates after this phenomenal drop observed in the Petrol & Diesel Prices has paved the way into the economics of the country. The current rates of the Petrol & Diesel Prices have been revised on the basis of the decision for metropolitan cities like Delhi, Mumbai, Kolkatta & Chennai.
The prices of petrol in the aforementioned region currently are Rs. 68.38, 77.51, 71.16 and 70.85 respectively observing an average drop of Rs. 2.5 per litre whereas this drop is Rs. 2.25 per litre. The revised rates of diesel in these regions have been observed as Rs. 56.89, 60.43, 59.55 and 59.89 respectively. The prices of Petrol & Diesel in the same cities were on a higher side when observed on a day prior i.e. on October 3, 2017.
Petrol & Diesel Prices Dropped Sharply | Here’s What Statistics Reveal
The soaring high Petrol & Diesel Prices in India followed by daily change observed as a fluctuation of oil rates at an international level had added fuel to the fire in the lives of the common people & daily commuters. The effect of decisions made in the economic policies of the country directly affects the Petrol & Diesel Prices as they serve as the lifeline of the current system. Statistics reveal that dropping the Petrol & Diesel Prices by an average of Rs. 2 per litre makes the annual revenue cost to the central government to be INR 26000 crores.
This has been done as a consequence of the crude prices at an international level which had risen to their maximum level in past two years of time frame. Such analytics surely has something re-affirming about the current state policies which have shown downfall in the Petrol & Diesel Prices in India despite surging of crude oil at an international level.
Well, what do we do now? Get the tanks of vehicles full because it is not daily when we see Petrol & Diesel Prices observing such sharp drop !!!