The government may have given some relief regarding the skyrocketing prices of petrol and diesel, but a matter of discussion is what might be the effect on the price of petrol and diesel in the coming time. The country’s three largest oil marketing companies HPCL, BPCL, IOC have not made any change in the prices of petrol and diesel on Monday.

At the same time, the state governments are also reducing the price of petrol and diesel. Taking a big decision, the Punjab State Government has reduced VAT and become the state with the most reduction in petrol prices. In Punjab, the price of petrol has decreased the most by Rs 16.02 per litre. In Delhi, the price of one litre of petrol is Rs 103.97 and the price of diesel is Rs 86.67 per litre.

However, you will be surprised to know that there is a city in the country where petrol is cheaper by Rs 33.38 and diesel by Rs 23.40 as compared to Sri Ganganagar in Rajasthan. At present, the price of diesel is Rs 80.96 and petrol is Rs 87.10 per litre in Port Blair, Andaman Islands. That is, the cheapest petrol and diesel price in India at present. These prices are after the reduction in excise duty by the central government.

Significantly, crude oil has become cheaper in foreign markets for the third consecutive week. According to the news agency Reuters, Brent crude prices had crossed $85 per barrel, which has now fallen below $81 per barrel. At the same time, the rise in the US dollar is also putting pressure on crude oil prices. In the coming days, the US government may increase the supply from the Strategic Crude Reserve. There is constant discussion on the supply of petrol and diesel at the global level.

According to experts, oil prices are likely to fall in future but there is no possibility of a major fall in oil prices in the next three months. That is, the prices of petrol and diesel can remain stable for most of the time from now on. Apart from this, petrol and diesel can also give relief amid rising inflation.

Notably, on the eve of Diwali, the central government had reduced the excise duty on petrol by Rs 5 while on diesel by Rs 10. Along with this, the states were asked to reduce VAT so that the general public can get more relief from expensive oil.

After the reduction of excise duty on petrol and diesel by the central government, many states have reduced VAT. These states and union territories include Karnataka, Puducherry, Mizoram, Arunachal Pradesh, Manipur, Nagaland, Tripura, Assam, Sikkim, Bihar, Madhya Pradesh, Goa, Gujarat, Dadra and Nagar Haveli, Daman and Diu, Chandigarh, Haryana, Himachal Pradesh, Jammu and Kashmir, Uttarakhand, Uttar Pradesh and Ladakh. However, non-BJP ruled states like Maharashtra, West Bengal and Delhi have not reduced the VAT yet.