Petrol Diesel Price: Petrol-diesel prices may decrease, government may give tax exemption in view of rising inflation

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The Narendra Modi government at the center is preparing to give big relief to the common people who are moaning due to rising inflation. there is news that petrol And diesel prices may come down. The government can reduce the tax on fuel. According to the report, the government can take this decision to reduce the inflation rate.

Along with petrol and diesel, the prices of these things can also decrease

Reducing tax and import duty will not only reduce the prices of petrol and diesel, but it will affect other things as well. There is news that the government can also cut the price of maize. The price of soya oil and milk may also come down.

Government can cut import duty

Reuters reported that in February inflation rate After the figures come, the central government can decide on the price of petrol and diesel. India’s annual inflation rate has increased from 5.72 to 6.52 at this time. The government can also reduce the import duty.

Fall in crude oil prices

Talking at the global level, the prices of crude oil have come down at this time. The price of crude oil declined by Rs 82 to Rs 6,564 per barrel. On the Multi Commodity Exchange, crude oil for delivery in February fell by Rs 82, or 1.23 per cent, to Rs 6,564 per barrel. It traded for 4,425 lots. Globally, West Texas Intermediate crude oil declined by 1.04 per cent to $79.31 per barrel, while Brent crude was trading at $86.07 per barrel, down 0.62 per cent.

Inflation eases to two-year low of 4.73 per cent in January

Wholesale inflation eased for the eighth month in a row to a two-year low of 4.73 per cent in January on easing prices of manufactured goods, fuel and electricity. However, inflation of food items remains high. This is the eighth consecutive month when the rate of inflation based on the Wholesale Price Index has come down. Wholesale Price Index (WPI) based inflation was 4.95 percent in December, 2022 and 13.68 percent in January, 2022.

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