No relief in petrol-diesel for 14 months despite crude oil prices falling by $66

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- High fuel prices responsible for high prices of essential food items

- Due to the high cost of fuel, essential commodities including tomato, wheat, pulses become expensive and hit the people.

Ahmedabad: Even after the price of crude oil fell by 66 dollars per barrel or 48 percent in the last 15 months, the central government did not announce any reduction in the prices of petrol and diesel for 14 months. The government has announced restrictions on storage to reduce prices but has not taken any steps to reduce fuel prices.

Crude oil prices in the international market are currently hovering between $69 to $73 per barrel against the level of $139 in March 2022, but the prices of petrol and diesel used in transportation in India have not been reduced in any way after May 2022. Also, even though Russia has started selling cheap crude oil to India, the benefits are going to the US and Europe instead of domestic consumers. In the beginning of June, there were reports that oil companies are likely to reduce the high prices of Rs 96 per liter of petrol and diesel. However, no announcement has been made by the companies or the government regarding this.

As the price of fuel is high, the transportation of various items is becoming expensive, the prices of tomato, edible oil, dal, pulses are also continuously high and this is affecting the public. Meanwhile, tomato prices have seen a sharp rise in the country today. In Uttar Pradesh and Karnataka, the price of one kg of tomato has gone up to Rs.122. In the capital Delhi, the retail price is as high as Rs.80, while in Gujarat, the price is also around Rs.100 to Rs.120. The consumer affairs secretary has told the public that the prices have gone up due to disruption in transport due to rains and will come down in the next few days as supply eases.

Agricultural production and transportation have become more expensive as diesel prices remain high. This year, the government had to impose a stock limit for the first time in the last 12 years to control wheat prices. Due to the high price of pulses, the government had to release stocks from its godowns. The price of urad dal has increased by Rs.45 per kg in three months. Due to the rise in the prices of Tuwer and Udd, the central government has also been forced to control its storage.

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