Current AffairsIndia

Downward revisions, stability in fuel prices benefit Common Man and the Poor

Kolkata: Substantial downward revision and stability in the prices of essential petroleum products – petrol, diesel, LPG cooking gas and kerosene – in the recent months, has brought much-needed relief for the common man as well as the poorer sections of society, officials said on Tuesday.

For instance, the Retail Selling Price (RSP) of diesel sold through Indian Oil Corporation’s (IndianOil) fuel stations has come down by Rs 2.93 per litre, and petrol by 97 paise per litre at Delhi, during September 2020, with corresponding price reduction in other markets across the country.

In the current month, diesel prices have been reduced by a further 17 paise per litre in Delhi so far, while there has been no change in the price of petrol. This has come as a great relief to motorists and transporters alike.

Similarly, there has been virtually no change in the RSP of LPG for domestic use at Delhi and other markets across India since 1st July 2020. With an average monthly sale of about 13 crore domestic LPG cylinder refills on industry basis, as many households have benefited from stability in the price of LPG cooking gas.

Even in the case of subsidised kerosene being supplied through the Public Distribution System (PDS), the cumulative reduction in RSP has been substantial; for instance, the downward revision at Mumbai was Rs.12.73 per litre since 16th Feb 2020. In the latest instance, PDS Kerosene price in Mumbai came down by Rs 2.19 per litre at the beginning of this month – from Rs 25.84 per litre in Sept. 2020 to Rs 23.65 per litre in Oct 2020.

The poorest sections of society are benefited by the substantial reduction in the price of kerosene distributed through the PDS.

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