Patna: The price of fuel reaches the highest point of all time in Patna because gasoline is sold with Rs 105.36 / Liter and Diesel at RS97.31 / Liter on Monday.
Experts say tariffs tend to increase further because of the increase in crude oil prices in the international market.
The increase in fuel prices has affected the middle to upper income groups, which have been hit hard due to covid pandemics.
The price of gasoline and diesel in Patna respectively was approached by RS1.20 and RS1.40 / Liter, in the last 5 days, bringing sales to fall 20%, said Ashok Kumar, the owner of a fuel station near DAK Bungalow crossed here.
Oil companies have revised gasoline and diesel prices for four consecutive days since September 30.
“We expect prices to increase further, because the international level of crude oil might rise.
About 20% of sales have been affected,” Ashok said.
After falling from 24 Paise per liter at the gasoline level in August, a increase of 45 Paise per liter occurred in September and 60 Paise in October so far.
Diesel prices, after declining 74 Paise per liter, increased by RS1.40 / Liter in September and 70 Paise in October.
Sudhanshu Kumar, an economist at the center of economic economic and financial policy, Patna, told newspapers that this time the price of fuel increased due to an increase in international crude oil rates.
“It has risen from $ 73 per barrel on September 20 to $ 80 per barrel in October 4.
It is expected to exceed $ 90 per barrel in the coming days.
Therefore, we will see further improvements in the price of gasoline and diesel in a few days upcoming.
efforts to switch from petroleum to mixing ethanol and increased use of electric vehicles.
but this change will take time.
Until then, the transportation costs will be high, “said Sudhanshu.
However, the DM economist was written, however, said that the government failed to follow economic fundamentals, the possibility of economic revival would decrease.
“In such cases, there are limited options for the government for resource generation; which is why the price of fuel increases.
The government does not have other means of covering losses and to generate funds to run the program,” he said.
“This is the reason for being paralyzed to increase fuel prices based on speculation.
When does the price fall, why does the government do not reduce prices? If they want to change prices based on international crude levels, they must let the market decide,” he added.
Fuel prices have cascading effects on other commodities, especially household and kitchen tableware such as wholesale goods, cooking oil, vegetables and fruits, among others.
Many families struggle to wrestle with many problems, including cash flow and commodity price increases.
Automatic driver Ranjeet Kumar said he only produced RS100 to 120 per day, which was not enough to fulfill his family’s basic needs.
“Many of my friends left this profession, because diesel prices have increased rapidly.
LPG prices and essential commodities also increase,” he said.
Kadamkuan Resident Shweta Kumari (39) said the monthly budget had been hit hard by the increase in fuel prices.
“An unprecedented increase in the price of LPG cylinders and vegetable oils increasingly squeezed the household budget, especially when the festival season is on the corner.
We have kept several savings for medical emergencies, by cutting our costs,” he said.