High time to check the unreasonable and exorbitant petrol and diesel prices

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It is a clear fact that India has one of the highest rates of fuel in South-East Asia (i.e. if we compare with our neighboring nations at the least). Since July 2017, the petrol prices have risen by around Rs. 7.

Lets have a look at an astonishing fact of the matter: Petrol prices in April 2014 crossed the Rs. 70 mark. Crude oil price at that time was USD 98 per barrel. More than 3 years later, the prices have again breached Rs. 70 levels even though the oil price in the crude market is almost half at USD 50 per barrel. In June this year, the government introduced dynamic pricing of fuel which was supposed to reflect the crude oil prices in the market. However, the actual scenario is nowhere even close to that.

In addition to this, GST was introduced quoting "One nation, one tax". However, petrol was not included under GST. All the Indian states impose their respective VAT on petrol, thus having different rates ranging from Rs 80 in Mumbai to Rs 71 in Delhi. More than 100% tax is levied on the actual petrol prices, thus doubling the rate at which it is available to the citizens. If at all petrol is included in GST, the maximum it can reach is around Rs. 45 (considering the maximum slab of 28%), which is a staggering Rs. 25-30 less.

Its high time now that the central and state governments do something about this grave problem of continuous petrol price rise. Under the excuse of "DYNAMIC FUEL PRICING", the actual prices have increased by more than Rs 6-7 in barely 3 months.

Let us all spread and share this among all our contacts and get as many supports and signatures as possible so that government sits up and takes notice. 



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