petrol diesel gas cylinder december price: For the last few months, there have been fluctuations in the prices of petrol, diesel and LPG gas cylinders. Many people believe that the prices of these fuels have come down significantly. But is it true? Let us know about this in detail.
Prices of petroleum products have always been a matter of concern for the common man. In recent times the government has tried to provide some relief. But is this relief enough? In this article, we will look at the current prices of petrol, diesel and LPG gas cylinders, the changes in them and the reasons behind it.
Overview of prices of petrol, diesel and LPG
| Description | Situation |
| price of petrol | Decreased by Rs 2 per liter (in March 2024) |
| price of diesel | Decreased by Rs 2 per liter (in March 2024) |
| lpg cylinder price | Decreased by Rs 200 (in August 2023) |
| Previous changes in petrol and diesel | on 21 may 2022 |
| Presently the profits of petroleum companies | Rs 6/litre loss on petrol, Rs 3/litre loss on diesel |
| international crude oil price | 2-2.5% decline in last one week |
| dearness allowance of government employees | 3% increase likely |
Change in prices of petrol and diesel
The last major change in the prices of petrol and diesel took place on May 21, 2022. At that time Finance Minister Nirmala Sitharaman had reduced the tax on these fuels. After this there was no major change in prices for almost two years.
However, in March 2024, the government cut the prices of both petrol and diesel by Rs 2 per liter. This step was taken to provide some relief to the general public.
Current prices of petrol and diesel in major cities
- New Delhi: Petrol – Rs 96.72/litre, Diesel – Rs 89.62/litre
- Mumbai: Petrol – Rs 106.31/litre, Diesel – Rs 94.27/litre
- Kolkata: Petrol – Rs 106.03/litre, Diesel – Rs 92.76/litre
- Chennai: Petrol – Rs 102.63/litre, Diesel – Rs 94.24/litre
- Bengaluru: Petrol – Rs 101.94/litre, Diesel – Rs 87.89/litre
Change in LPG gas cylinder prices
There has been some relief in the case of LPG gas cylinders. In August 2023, the government had made a big cut in the price of domestic gas cylinder by Rs 200. Since then, there has been stability in LPG prices.
Currently, the price of a 14.2 kg domestic gas cylinder in Delhi is Rs 803. In Mumbai it is Rs 802.50.
Profit and loss of petroleum companies
This year has been a mixed one for petroleum companies. In the months of December and January, he was making a profit of Rs 10 per liter on petrol and Rs 6 per liter on diesel.
But the situation changed in February. Due to increase in crude oil prices, profit on petrol dropped to below Rs 6 per litre. At the same time, companies started incurring a loss of Rs 3 per liter on diesel.
international market influence
The international market has a direct impact on the prices of petrol and diesel. There has been a decline in crude oil prices for some time. In the last one week alone, the price of crude oil has fallen by 2 to 2.5 percent.
But the benefits of this decline have not yet reached Indian consumers. Companies are trying to recover their past losses.
Hope of relief for government employees
Although there has not been much relief in fuel prices, there may be some good news for government employees. According to sources, the government may soon increase dearness allowance by 3 percent.
At present dearness allowance is close to 50 percent. If this increase happens, it will provide relief to crores of government employees.
Have prices really gone down?
Now the question is whether the prices of petrol, diesel and gas cylinders have really reduced as much as is being said? The answer is – yes and no both.
- LPG Gas Cylinder: There is a big relief in this. The cut of Rs 200 has reduced the pressure on the domestic budget.
- Petrol and Diesel: There is very little relief in these. The reduction of Rs 2 per liter is important, but it is not enough.
Factors affecting prices
- international crude oil prices
- rupee exchange rate
- government taxes and fees
- margin of petroleum companies
- balance of supply and demand
What can be expected in the future?
There is little hope of major changes in the prices of petrol, diesel and LPG in the coming time. However, there are some factors that can affect these:
- state of the global economy
- geopolitical tensions
- India’s economic policies
- environmental regulations
- Availability of alternative fuels
Tips for Consumers
- Save fuel: Use vehicles with low fuel consumption.
- Use public transport: Where possible, use the bus or metro.
- Car Pooling: Share a car with friends or coworkers.
- Alternative fuels: Consider electric or CNG vehicles.
- Keep an eye on prices: Know the cheapest petrol pump in your area.
role of government
Government plays an important role in controlling fuel prices. Some steps that the government can take:
- Reduction in taxes: Taxes on petrol and diesel can be reduced.
- Subsidy: LPG subsidy can be given to poor families.
- Promotion of alternative fuels: Promotion of electric vehicles and other clean fuel options.
- Regulation of oil companies: Strict rules to prevent profiteering.
- International cooperation: Better relations with oil producing countries.
conclusion
There has been some reduction in the prices of petrol, diesel and LPG in recent times, but this relief is very little. The reduction of Rs 200 in LPG gas cylinder is a relief, but the reduction of Rs 2 per liter in petrol and diesel is insufficient.
Fuel prices are still a major concern for the common man. The government and oil companies will have to work together to find solutions that can provide long-term relief.
Disclaimer:
This article is based on the current situation and the information given in it is till November 2024. Fuel prices are constantly changing and include many factors. It is therefore important that you always consult official sources for the latest information.
