Petrol-Diesel Price Down: From Pakistan to America, the prices of petrol and diesel are skyrocketing in all the countries of the world, but India is the only country where fuel prices have fallen by 3.1%. According to the statement of Union Petroleum and Natural Gas Minister Hardeep Singh Puri, fuel prices in India have declined by 3.1% between May 2022 and May 2026.

Prices increased from Pakistan to America

The Union Minister explained from the data released that in the last four years, the prices of petrol and diesel in Pakistan have increased by 70%. Prices have increased by 66% in Sri Lanka. In Italy and France there has also been an increase of 46% and 47% respectively. Even in America, fuel prices have increased by 35%. At the same time, prices in India have continuously decreased. There has been a net decline of 3.1% in fuel prices in India in these four years.

How did the 3.1% decline occur?

The government said that recently due to tension in West Asia, the international price of crude oil has increased from $ 70 per barrel to $ 122 per barrel. The government has taken several steps from time to time to save the people of the country from this increase, such as the government has reduced the excise duty on petrol by Rs 3 per liter and made it zero on diesel.

The government itself bears the revenue burden of more than Rs 1 lakh crore annually in the form of tax cuts to protect the general public from global price shocks. Government oil companies also faced huge ‘under recovery’ amid fluctuations in international crude oil prices so that fuel prices do not increase at the retail level in the country. In recent weeks, due to the increase in the prices of crude oil in the domestic market, the prices of petrol and diesel have definitely increased, but if seen in the long term of 4 years, it shows a decline of more than 3%.

new rules of government

The government has also fixed a daily limit of 200 liters of diesel per vehicle to prevent black marketing and siphoning of cheap diesel by industrial or bulk buyers from retail petrol pumps so that there is no shortage of fuel stock for common consumers.

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