- From 2014 price of crued oil decreasd significantly from maximum 150$ per barrel to currently 50 $, however petrol prices are still in the same range of still more then what was there in way back 2014.
- Why Prices are still so High :
- Central government levy Excise Duty and State Government further levy VAT which is very very high even more then max slab of GST i.e. 28 %.
- Govt argues for its high tax is to diversion of same money for the public welfare and infrastructure development however high prices costing common man very heavily.
- Way Ahead How to Transfer the Lower Price to Consumer
- High petrol price affect the common man as well as increase price of other products as it has the cascading effect.
- Bringing petroleum products under GST can be the solution which will be max 28% across nation.
- Article Link : http://www.thehindu.com/todays-paper/tp-opinion/slow-creep/article19673647.ece