Fuel Price Hike Explained: Govt Cites Global Crude Surge And ₹600 Crore Daily OMC Losses | Breaking

Описание: The central government has addressed concerns over rising fuel prices, attributing the hike to severe disruptions in global imports and surging crude oil rates. Officials highlighted that while global prices for petrol and diesel have increased by over twenty per cent, the domestic hike has been restricted to under nine per cent. To cushion the impact on citizens, the government previously reduced the excise duty on both petrol and diesel by ten rupees, resulting in a massive tax revenue hit of fourteen thousand crore rupees. Despite these interventions and recent price adjustments, oil marketing companies continue to face daily losses of nearly six hundred crore rupees. The government assured the public that depots have sufficient fuel stocks and that retail networks are being monitored daily to resolve last-mile logistical issues. Furthermore, authorities have coordinated with state governments and union territories to strictly prevent fuel hoarding and mismanagement across the country.

#FuelPriceHike #PetrolPrice #DieselPrice #itwebvideos #CrudeOil #IndianEconomy #OilMarketingCompanies #ExciseDuty #FuelShortage #IndiaToday #CurrentAffairs #GovernmentOfIndia #FuelPrices #Inflation #PetrolPump #FuelSupply #GlobalEconomy


Subscribe to India Today for NEW VIDEOS EVERY DAY and make sure to enable Push Notifications so you'll never miss a new video.

All you need to do is PRESS THE BELL ICON next to the Subscribe button!

India Today TV is India's leading English News Channel. India Today YouTube channel offers latest news videos on Politics, Business, Cricket, Bollywood, Lifestyle, Auto, Technology, Travel, Entertainment and a lot more.

Stay tuned for latest updates and in-depth analysis of news from India and around the world!

WhatsApp Channel: https://whatsapp.com/channel/0029Va2A...

Download App: https://indiatoday.link/wHaj

Follow us: Official website: https://www.indiatoday.in/

Twitter:   / indiatoday  

Facebook:   / indiatoday