View Full Image. Premium Ruchir Sharma quits Morgan Stanley after year stint. Premium Berger beats Asian Paints on parameter which now matter Subscribe to Mint Newsletters. Internet Not Available. Wait for it… Log in to our website to save your bookmarks.
Yes, Continue. While this may be true on the surface, it misunderstands how petroleum products interact with other parts of the Indian economy. The Wire breaks it down. First, petrol and diesel are also used to power two-wheelers, a form of transportation used across the country by many lower-income Indian households.
The proof of the pudding is of course in the tasting: if the price of petrol and diesel were consumed by a tiny minority of Indians, why do fuel prices find themselves magically frozen any time there is a state election in the offing? Therefore, when the cost of diesel goes up, freight costs go up. This makes everything across the board slightly more expensive, thus impacting a huge number of companies and Indian customers across income categories. This impacts everything from Swiggy and Zomato deliveries the more that delivery boys have to churn out for petrol, the more you end up paying to Parle G biscuits whose parent company has to pay more for logistics.
ThePrint has the finest young reporters, columnists and editors working for it. Sustaining journalism of this quality needs smart and thinking people like you to pay for it.
Whether you live in India or overseas, you can do it here. Support Our Journalism. Friday, 12 November, Sign in. Forgot your password? Get help. Privacy Policy. Password recovery. Home Economy Petrol at Rs Representational Image. Hindustan Petroleum outlet Commons. The price of petrol in the national capital is Rs India has seen a faster recovery in the consumption of petrol than of diesel after pandemic-related restrictions with petrol consumption up 9 per cent in September compared to the year ago period but diesel consumption remaining 6.
Diesel accounts for about 38 per cent of petroleum product consumption in India and is a key fuel used in industry and agriculture. The government says it has been reaching out to key oil producing countries, asking them to boost production of crude oil. Also, the level of output and pricing benchmarks are decided by cartels such as OPEC. In March, then petroleum minister Dharmendra Pradhan had said that India would source crude from whichever country gives India the best price and business terms.
India had moved to lower crude oil procurement from middle eastern countries in favour of procurement from Latin American and African nations after Saudi Arabia and other OPEC nations did not raise their crude oil production schedule despite rising crude oil prices.
0コメント