Is petrol price going to go up again? Do not be happy when the price goes down!
We have seen that petrol and diesel prices have come down due to the recent reduction in taxes on petrol and diesel by the federal government. Especially in Chennai, the public was happy with the reduction of petrol price by Rs 8 per liter and diesel by Rs 6 per liter.
In addition, some BJP-ruled states and some non-BJP-ruled states have also reduced the state tax on petrol and diesel, which has reduced petrol and diesel prices by more than 10 rupees.
It is noteworthy that states including Tamil Nadu, West Bengal, Telangana and Andhra Pradesh have not yet reduced taxes.
Do not rejoice In this situation, the public is shocked that economists have said that if the federal government reduces the tax on petrol and diesel, petrol prices should not be happy #and petrol prices are likely to rise again.
Economists predict that petrol prices will rise gradually if Russia's war #on Ukraine continues, and that petrol and diesel prices will rise steadily in the wake of the Indian Oil Corporation's current downturn.
The value of the Indian rupee against the US dollar is currently over 77 rupees. Gasoline and diesel prices are likely to rise as the Indian rupee continues to depreciate. So there is no doubt that petrol prices will gradually rise again after 10 to 15 days.
The central government has decided to provide a $13 million loan to offset the losses incurred by the central government due to the increase in debt and further reduction of taxes on petrol and diesel. It is said that not only petrol and diesel but also the prices of essential commodities are likely to go up as this will increase India's debt.
Petrol and diesel prices go up by 40% Do you know the price of a liter of petrol in Sri Lanka?!
With Sri Lanka indebted to the tune of $51 billion and unable to pay its debts for the first time, the Government of Tamil Nadu and the Government of India, including the Government of India, have been providing assistance to meet the basic needs of the people of that country.
In this situation, the Sri Lankan government has sharply increased petrol and diesel prices in order to find a solution for fuel amidst many problems such as currency devaluation, rising fuel prices and fuel shortages.
Power and Energy Minister #Kanchana #Wijesekera said on Twitter that the Sri Lankan government was planning to increase transport and all other service charges in order to generate more revenue for the state and to cope with fuel shortages and rising prices.
Work From Home has also encouraged all companies to provide Work From Home to their employees in order to reduce fuel consumption in Sri Lanka nationwide. It is noteworthy that the Sri Lankan government last Friday gave a holiday to schools to reduce the use of petrol and diesel.
The second increase in the price of a liter, which will be announced after April 19, is that with today's hike, the most used Octane 92 petrol in Sri Lanka will be priced at Rs 420 a liter and diesel at Rs 400 a liter. This is the highest price in the history of Sri Lanka.
Ceylon Petroleum Corporation, the state-owned fuel company, today announced an increase of 24.3 percent or 82 rupees in octane 92 petrol and 38.4 percent or 111 rupees per liter in diesel. The Sri Lankan rupee is valued at 4.64 against the Indian rupee.
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