Petrol & Diesel Prices Update | Delhi Suffers

    Petrol and diesel prices are substantially increasing day by day in the country. The capital, Delhi, has seen another huge hike in their prices recently.

 

    PetrolIn Delhi, the price of petrol has touched a peak of Rs.81/- per litre and diesel price has been raised upto Rs.73.08/- per litre.  As compared to Delhi, the prices of petrol and diesel in Mumbai has been raised upto Rs. 88.39/- per litre and Rs. 77.58/- Per litre respectively.

 

    This is mind boggling for consumers as it has drastically impacted their monthly budget. The government and opposition are fighting with each other while the genneral public is suffering. In September 1998, the price of petrol was just Rs. 23.94/- per litre in Delhi. Compared to that time, there is an increase of 23 percent in its prices in 20 years.

 

    The value of Rupee has been an important factor in this increase in fuel prices as the value of Rupee continues to depriciate against US Dollar. On September 11, it touched a low value of Rs. 72.80/-. This is the lowest value of Rupee against US Dollar ever.

 

When will the prices come down?

 

    As per the reports, it is unlikely that the prices of these fuels will come back down significantly any time soon. Madan Sabnavis, chief economist at CARE says, "Petrol and Diesel prices will not come down until and unless the Central or State government decide to cut taxes." 

   

    As consumers, we can just hope and wait for the government takes any serious step to cut down its prices. What do you think about all this? Let us know your thoughts in the comments below.

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