Petrol and diesel prices down, some relief for drivers!
Posted on: 02/Mar/2020 10:54:53 AM
The prices of petrol and diesel are changed daily according to the global situation. On this basis, Today (Monday, 2nd March) Petrol price is Rs. 74.28 per litre and Diesel price is Rs. 67.65 per litre. This price came into effect from 6.00 AM today.
The central government granted permission to the oil corporations to change the prices of petrol and diesel as per the international crude oil price. Accordingly, the price of petrol and diesel is fixed every day!
The price of petrol and diesel was higher in the last few months mainly due to the depreciation of the Indian Rupee against the US Dollars and also the increase in the price of crude oil in the international market.
In this situation, just a month ago, there has been a trend of decrease in the price of petrol and diesel in the last month! Subsequently, as per the latest announcement released by the oil corporations, the price of petrol has come down by 23 ps compared to yesterday’s (Sunday, 1st March) and is now sold at Rs. 74.28 per litre.
Further, the price of diesel has come down by 21 paise and sold at Rd. 67.65 per litre.
With this trend of decrease in petrol and diesel prices, the vehicle owners and drivers are relieved to some extent!
While this is the scenario, another trend is that due to the higher prices of petrol and diesel, the number of people buying vehicles has come down considerably.
For the vehicle owners/drivers who cover a distance of 50 km per day on an average, the additional expense incurred due to higher petrol/diesel prices is from Rs. 100 to Rs. 150 per day. This works out to Rs. 3000 to Rs, 4500 per month! So, the people who planned to buy vehicles have been constrained to postpone their purchases!
As such, information is gathered that the sales of vehicles have come down by approximately 20%!
