Petrol-Diesel Price: Petrol-Diesel has not become cheaper from November 1, Petroleum Minister told the real reason
Newz Fast, New Delhi: Petrol diesel has remained at the same level for almost the last 5 months. Although there was volatility in the price of crude oil, it did not show any effect on the price of petrol and diesel in the domestic market.
In the media report, there was talk of reduction of 40 paise per liter in petrol and diesel prices from November 1. Along with this, it was also said that there will be a reduction of ₹ 2 liter in petrol and diesel soon and it will be implemented in different phases.
But from November 1, there has been no change in the rate of petrol and diesel.
Assistance will be sought for damages
Union Minister Hardeep Singh Puri said that his ministry will seek help for the losses suffered by three retail fuel vendors Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd.
These companies have not increased the prices of petrol and diesel to help the government to get rid of inflation, while the Russian-Ukraine war made crude oil very expensive in the international market.
Loss of more than 19000 crores
When asked about the reduction in the price, he said that the oil marketing companies still lose diesel tax. Presently the loss on diesel is around ₹27 per liter but the actual cash loss is around ₹3 to 4 per liter.
The three fuel retailers have incurred losses of more than Rs 19000 crores in the April-June quarter, it is estimated that these companies are going to suffer losses in the September quarter as well.