The Prices of Petroleum products have been a prime cause of concern for Indians and for the Central govt as it is hovering from ₹70 to ₹80+ per litre of Petrol and quite high for other petroleum products.
At the time of Dr.Manmohan Singh’s govt International Crude Oil prices were quite higher but still petroleum products did not price this higher.
As we see from last 18 months,the Prices of International Crude have come down drastically but petrol and diesel prices have seen only upward journey.
We have seen suddenly reopening of Petrol/Diesel Gas Stations of Reliance Company getting function although they were shut down for much time during UPA rule.
Minister of Petroleum Mr.Dharmendra Pradhan’s suggestion to bring Petroleum Products under GST looks feasible only if it does not remain a mere rhetoric.
Finance Minister Mr.Arun Jaitely saying that Congress and Left ruled states must cut down their tax prices looks quite absurd that BJP which trumpets to rule 13 states by itself and 8 other states with it’s allies,thus,together 21 states does not cuts it’s tax rates rather preaches opposition.
Another excuse saying USA has cut short it’s Oil output due a number of hurricanes and natural calamities looks even ridiculous as Indian oil basket depends lesser on them.
Why are Lower Crude Oil prices benefits not transferred to Common people and how long would they suffer?
Higher Petroleum prices leads to higher inflation and that affects already tattering economy.
BJP used to create a big havoc about higher prices during UPA Congress rule although even International Crude was higher as well then but now write longer articles to narrate benefits of higher petroleum prices.Infact some go nuts defending Petrol prices to reach ₹100 Per Litre and above to call it in the “National Interest”,Infact this is in interest of Modi govt and their rich corporates.
Some kind of tension could prevail in the name of North Korea tension and loose talks of Third World War due to this but this does not affect Petroleum routes much in the world.
Modi govt has to take immediate steps to bring down prices of Petroleum Products by regulating it’s profit’s margins at the Central level and states ruled by them and their allies and then expect opposition ruled states to do so.
Petroleum products brought under GST will reduce their price over a long time or not is still a question which does not have an answer.
Petroleum prices on the higher side affect Poor and Middle Classes severely at the same time diesel &other products are used in agriculture as well,so this hits farmers as well.
So,Indian Economy infact rather Indian Common Man must get rid off high prices and must have lower prices of Petroleum Products as they are already suffering due to aftermaths of Demonitisation and haphazard implementation of GST.