Petrol and diesel prices in Rajasthan are breaking new records every day. Domestic oil companies have once again increased the prices of petrol and diesel for the second consecutive day on Thursday. Oil companies today increased the prices of petrol by 36 paise and diesel by 38 paise. After which after the implementation of the new prices of petrol and diesel, 1 liter of diesel in Jaipur has reached a price of Rs 106 85 paise, while petrol has reached the price of Rs 115 57 paise. This is happening for the first time in history when the price of petrol and diesel has increased 21 times in a month.
Benchmark Brent crude is currently trading at around $85 a barrel. Which can go up to $100 a barrel in the next three to six months. When it reaches $100, petrol and diesel in the domestic market will become more expensive by Rs 8-10 per liter from the current prices. Due to this, the prices will increase further in states with high VAT like Rajasthan and Madhya Pradesh.
According to Iraq's Oil Minister Ehsan Abdul Jabbari, crude oil will touch $100 a barrel between the first and second quarters of next year. The current price of Brent ($85) is already doubled from a year ago ($42.5). This has added to the difficulties of India, which imports about 85 percent of its crude requirement. Here imports may have to increase.
In Rajasthan, the Central Government has increased Central Excise and State Government VAT many times in the last 18 months. After which the state government had also given relief in VAT of 2 percent in petrol and diesel. But the government relief is currently proving to be unsuccessful in curbing the rising prices of petrol and diesel. In such a situation, now the common man is also expecting a reduction in excise duty from the central government. So that the prices of petrol and diesel can be reduced.