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Petrol prices have increased again for the fourth time this year already

Prices for Petrol and Diesel have gone up again as on 24 May, 2018. The ruling government is facing a lot of pressure from opposition parties.

Prices for Petrol and Diesel  in Mumbai are now at Rs 85.29 for petrol and 72.96 for diesel, whereas Rs 77.47 and Rs 68.53 respectively in Delhi. This is the fourth time this year that there has been an increase, at the start of the year the price for petrol in Mumbai was Rs 76.60 per litre with increases in February to Rs 79.39 per litre and thrice in the month of May (Rs 82.68 on 14 May, Rs 85.03 on 23 May and Rs 85.33 on 24 May).

Union Minister, Nitin Gadkari, said on Wednesday that since India is linked to the global economy this increase in oil prices is ‘unavoidable’. Stating that bringing down retail rates by subsidising fuel prices will cause money to be taken away from the goverments social welfare schemes.

Law and IT minister, Ravi Shankar Prasad has stated that the government is aware of the concern regarding fuel prices and is looking for long-term solutions toward the problem.

Story : Zal Cursetji

 

About the author: Online Car India

 

 

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