Big relief! Petrol and diesel prices decreased, see the full list of new prices applicable from January 12 Petrol Diesel Price Drop-StudyToper

The general public is finally relieved after the continuous increase in petrol and diesel prices. The government has announced a cut in prices of petrol and diesel. This deduction has come into force from 12 January 2025. This decision will provide great relief to millions of vehicle owners across the country. Decroits are also expected to curb inflation due to reduction in prices of petrol and diesel.

This step will not only reduce the burden on the common man’s pocket, but it is also likely to speed up the economy. Reduction in fuel prices will reduce transportation costs, which can also reduce the prices of goods and services. In this way, this decision can prove to be a major booster for the country’s economy.

New prices of petrol and diesel

The government has cut the price of petrol by Rs 2 per liter and diesel by Rs 1.50 per liter. This deduction has been implemented across the country. However, the tax imposed by the states may make a slight difference in prices in different states.

Overview of petrol-diesel pricing scheme

New fuel prices in major cities in major cities

Following are new prices of petrol and diesel in major cities of the country:

• Delhi: Petrol – Rs 92.77/liter, diesel – Rs 86.17/liter
• Mumbai: Petrol – Rs 101.50/liter, diesel – Rs 88.53/liter
• Kolkata: Petrol – Rs 103.01/liter, diesel – Rs 89.32/liter
• Chennai: Petrol – Rs 98.80/liter, diesel – Rs 90.98/liter
• Bengaluru: Petrol – Rs 100.92/Liter, Diesel – Rs 87.49/Liter
• Hyderabad: Petrol – Rs 105.46/liter, diesel – Rs 94.15/liter

Reasons for Price Cut

There are many reasons behind the cuts in petrol and diesel prices:

1. Crude oil prices fall in the international market: Crude oil prices have declined significantly in the last few months. This has a direct impact on petrol and diesel prices in India.
2. Rupee of rupee: The exchange rate of the rupee has improved against the dollar, which has reduced import costs.
3. Tax cut by the government: The central government has reduced excise duty, which has been given the benefit to consumers.
4. Cooperation of state governments: Some state governments have also cut their share VAT.
5. Efforts to promote economic activities: The government wants economic activities to increase due to lower fuel prices and the growth rate increases.

Impact of price deduction (Impact of Price Cut)

Petrol and diesel prices will have a widespread impact:

1. Close on inflation: The reduction in fuel prices will reduce transportation costs, which will reduce the prices of goods and services.
2. Increase in people’s savings: The vehicle owners will have less burden on pockets, which will increase their savings.
3. Relief to industries: Manufacturing and transport sector will get great relief, which will reduce production costs.
4. Promotion of economic growth: Low fuel prices will increase economic activities, which will speed up growth rate.
5. Inflation control: Decrease in fuel prices will curb inflation rate.

State-wise petrol and diesel prices

New prices of petrol and diesel in various states are as follows:

• Uttar Pradesh: Petrol – Rs 92.69/liter, diesel – Rs 86.31/liter
• Maharashtra: Petrol – Rs 102.27/liter, diesel – Rs 89.02/liter
• Gujarat: Petrol – Rs 92.44/liter, diesel – Rs 88.67/liter
• Rajasthan: Petrol – Rs 102.32/liter, diesel – Rs 89.36/liter
• Madhya Pradesh: Petrol – Rs 105.50/liter, diesel – Rs 90.39/liter
• Bihar: Petrol – Rs 104.94/liter, diesel – Rs 90.92/liter

Fuel Price Determination Determination

Determination of petrol and diesel prices is a complex process, which includes several factors:

1. International crude oil prices: This is the most important factor. The fluctuations in crude oil prices in the global market have a direct impact on petrol and diesel prices in India.
2. Exchange rate: The price of the rupee also affects fuel prices against the dollar.
3. Central Tax: Excise duty imposed by the central government.
4. State Tax: VAT and other tax imposed by state governments.
5. Dealer Commission: Commission given to petrol pump owners.
6. Transport Cost: Cost of fuel from refinery to petrol pump.

Ways to Benefit from Price Cut

Some suggestions to take maximum advantage of fuel prices cut:

1. Use of fuel savings techniques: Use fuel saving techniques while driving.
2. Use of public transport: Where possible, use public transport.
3. Car Pooling: Choose the option of car pooling for office or long journey.
4. Regular maintenance of the vehicle: Regular maintenance of the vehicle so that fuel consumption is reduced.
5. Benefits of digital payment: Some petrol pumps give additional discounts on digital payments, take advantage of it.

Future price predictions

Experts believe that the prices of petrol and diesel may fall further in the next few months. There are a couple of reasons for this:

1. Fear of global recession: The demand for crude oil may decrease due to the possibility of recession in the global economy.
2. Development of new energy sources: Increasing use of electric vehicles and other alternative fuel can reduce the demand for petrol and diesel.
3. Increase in production: Some countries will increase supply from plans to increase oil production.
4. Government of India’s stance: The government can try to keep fuel prices low to control inflation.

Disclaimer

This article is only for informative purposes. Although we have tried to provide accurate information, petrol and diesel prices can change based on market conditions and government policies. Please contact your local petrol pumps or government websites for the most updated prices. Before depending on the information given in this article, readers are advised to do their own research and analysis.