By Admin 
Petrol-Diesel News: The war between Iran and the US started in late February. Which lasted till the first week of June. Due to this war, the Strait of Hormuz was blocked, due to which the supply of crude oil and gas was disrupted. Because of this, the prices of petrol and diesel were increased in many countries including India. However, now that this war has calmed down, people thought that their prices would be reduced a bit. But nothing like this happened.
Petrol and diesel prices did not decrease with immediate effect.
The price of crude oil in the international market has fallen from $126 per barrel to $71 per barrel. Despite this, the prices of petrol and diesel have not been reduced in India yet. However, in some neighboring countries the prices of petrol and diesel have decreased with immediate effect. Then why is it taking so much time in India, this question is in everyone’s mind.
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What did the government say?
Recently, Petroleum Minister Hardeep Singh Puri had said in his statement that it is going to take about two months for the prices of petrol and diesel to reduce in India. Explaining the reason behind this, he said that the crude oil which India had purchased at increased prices is still being used, hence there will be no change in the prices until the old oil gets exhausted. According to the minister, if the prices are not being reduced, they are not going to be increased either.
Why haven’t prices decreased in India?
When the war started, the prices of crude oil started increasing continuously. Which was affecting the budget but the government did not put any burden on the public for about two months. Because there were elections in 5 states at that time, if fuel prices had increased then the public could have been upset with the government. Due to which the prices were not increased then but were increased in May.
In such a situation, now that the prices of crude oil have come down, how will the government reduce the prices immediately? Because the burden which the government did not put on the public will also have to be recovered.
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Why did prices decrease in neighboring countries?
Talking about India’s neighboring countries, at present the rate of petrol across the world has decreased from Rs 150 per liter to Rs 139.33 per liter. This is because when the prices of crude oil increased during the war, the neighboring countries like Pakistan, Bangladesh, China, Nepal, Sri Lanka, Bhutan immediately passed the entire burden on the public. Because of which, as soon as the prices of crude oil decreased, the government had to remove the burden of inflation from the public.