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Business EconomyPosted at: Oct 14 2020 1:17PM


Downward revisions, stability in fuel prices benefit common man and the poor

Kolkata, Oct 14 (UNI) 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.
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 1
st 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 February 16,
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.
UNI SJC AKM
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Tags: #Downward revisions# stability in fuel prices benefit common man and the poor
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