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Is the burden of Indian economy on the shoulders of Petrol & Diesel – How will it impact an already Covid-19 effected common man

It seems the burden of economy is on the shoulders of Petrol & Diesel. The govt has been hiking the prices of petrol and diesel consecutively for 18 days and it seems to be continued. In stead of hiking prices everyday, the govt should hike whatever they want at one go. In Delhi, the petrol price has risen more than Rs. 8.30 and Diesel price has risen more than Rs. 9.46 in last 17 days. Today Diesel price is higher than that of petrol. Diesel is around Rs.80.00 and petrol is around Rs. 79.50.

The rate of petrol & Diesel in some major cities of India in INR

Petrol Diesel

Delhi 79.76 79.88

Mumbai 86.36 77.24

Kolkata 81.27 74.14

Chennai 82.87 76.3

Bengaluru 82.15 74.98

Hyderabad 82.59 77.06

Lucknow 80.32 71.15

Patna 82.64 76.11

Guwahati 83.83 77.77

Ahmedabad 77.07 76.23

Source: Fuel@IOC app.

Despite the crude oil is cheaper in international market, the oil prices in india are higher. The rate of crude oil is around 42$ per barrel. There are several countries in the world where petrol prices are much cheaper than India. Even Bangladesh has cheaper rate of petrol than india. There are also some countries where petrol prices are higher than that of India.

Prices (Per litre) of petrol in different countries!

Country Name Price (In Indian Rupees)

Venezuela 0.58
Sudan 23.24
Kuwait 23.64
Iran 24.49
Algeria 24.59
Egypt 25.07
Ecuador 26.60
Nigeria 28.53
Syria 29.73
Bahrain 36.05
Kazakhstan 36.45
Uzbekistan 36.52
Saudi Arabia 37.00
Qatar 37.37
Malaysia 37.72
Oman 39.23
Iraq 42.97
UAE 43.90
Burma 44.05
Indonesia 44.66
Ethiopia 46.40
Afghanistan 46.54
Belarus 46.75
Russia 48.98
Tunisia 49.80
Pakistan 51.64
Colombia 54.08
Bhutan 57.02
USA 57.56
Lebanon 62.51
Namibia 62.85
Vietnam 63.27
Sri Lanka 63.77
Georgia 64.25
Fiji 67.98
Taiwan 68.50
Nepal 68.74
Mexico 69.10
Ghana 69.46
Paraguay 70.13
Bangladesh 71.69
Philippines 72.29
Kenya 73.68
Cambodia 73.98
Australia 74.29
Mauritania 76.75
Ukraine 76.79
Argentina 77.60
South Africa 79.68
Costa Rica 79.72
Thailand 79.79
Brazil 80.10
India 80.22
China 80.90
Morocco 81.19
Canada 81.68
Senegal 83.84
Madagascar 84.00
Bahamas 85.73
Cuba 86.15
Jamaica 86.86
Bulgaria 87.26
Chile 88.63
Japan 89.31
Turkey 91.95
Poland 94.36
Zimbabwe 94.57
Yemen 95.01
Romania 98.47
Hungary 99.27
South Korea 100.56
Jordan 100.68
Czech Rep 100.75
Serbia 101.57
Austria 101.59
Mauritius 102.85
Cyprus 103.76
Spain 106.16
Slovakia 109.77
Uruguay 110.06
New Zealand 110.90
Switzerland 110.98
Singapore 111.62
Ireland 114.58
Germany 115.46
UK 116.34
Belgium 118.83
Finland 124.44
France 125.25
Sweden 126.47
Portugal 126.53
Israel 127.43
Italy 128.77
Greece 130.70
Monaco 131.74
Denmark 131.99
Netherlands 133.50
Norway 139.85
Hong Kong 144.23
Iceland 144.52


Source: Global Petrol Prices

Sadly, the petrol & diesel prices in India are very high. It’s around Rs. 80.00 per litre. Do we expect the fuel prices would ever drop here ? The government has put 64% of taxes on oil. State governments are also putting huge VAT on petrol and diesel. The people are angry over this. Many took to social media to express their concerns about the hike in prices.

People are raising their voices against the everyday hike of prices. I think it’s required to oppose Because the government thinks of her revenue only but what about public’s grief. State governments are also levying huge taxes on petrol & diesel. This is going to help in increasing the prices of everything everywhere. Inflation will increase. There are around 13 crore people who have lost their jobs due to Covid-19. They are running their families anyhow. Everyone’s income is badly effected due to Covid-19 pandemic. In this condition, govt should give some relief to the public, but the govt sucks. When crude oil was 200$ per barrel in 2008 the petrol price in india was Rs.64 .00 per litre. But when the crude oil is 42$ per barrel today, the oil is Rs. 80.00 per litre. This is too much.

The middle class and the common people are just  mere votes for any government, they are just squeezed by irrespective of the governments. We should not get ourselves trapped in the swindle of any government. Any government first thinks of her treasure then thinks about public. A common man whose job is lost and how he/ she is surviving in this situation when the household commodities prices are skyrocketing , it does not make any difference to any government, because you’re just a vote for them because you’re salaried class or middle class. No rich or any politician of any party will be effected by price increase but only the middle class and the poor.

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Published by Raju Prasad

A writer, thinker, and inquisitive learner.

12 thoughts on “Is the burden of Indian economy on the shoulders of Petrol & Diesel – How will it impact an already Covid-19 effected common man

  1. It was quite surprising to see that Diesel crossed Petrol for the first time. Also, I really think this move is not good for people who use a vehicle to ply to work. Don’t know what’s up with the government but this sure as hell ain’t a good move.

    Liked by 1 person

  2. This is really pathetic that govt is doing this by increasing prices on diesel and petrol. The government should understand the problem of public and give some relief on the contrary they’re sucking Common people. We can’t expect anything from such givts.

    Liked by 1 person

  3. It’s really sad to see the rising prices of diesel and petrol in India. I do hope government can come up with some solution as this would be really hard on the common man considering the way COVID has impacted the finances of everyone.

    Liked by 1 person

  4. The way fuel prices are increasing, it seems even the government has run of funds and Is helpless. The only quick fix way to increase the government’s income is by increasing the prices of commodities which give direct taxes. The poor and the middle class is the worst hit with this price rise. The farmers have to pay through their noses for diesel. The end result will be inflation and a huge demand-supply gap.

    Liked by 1 person

    1. I’m agree with you. The middle class or salaried class is just for paying taxes and giving votes to the govt, and nothing else that’s why all the time only middle class is sucked. Govt must think on the ground of humanity that already Covid-19 has effected crores of people, how they will tolerate the price hike in commodities. Shame on govt

      Like

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