- 23 Jan 2016
- Reaction score
I am aghast at the little knowledge people have on fuel prices and speak as if they know all.
Petrol and diesel prices have been deregulated since long. That means oil marketing companies decide the pricing according to the global brent crude oil price. As brent crude is falling down, prices are going down. This has nothing to do with the government.
You can track brent crude oil prices here: Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider
Now, some have said global oil prices were higher during previous government tenure and fell after 2014 still prices didn't reduce. This is because previous government floated Oil bonds i.e. the government borrowed money to keep the oil prices low and increased debt. The same amount has to be repaid back to those who lent the money. The present government has paid back the money using the additional tax levied.
So, please read about things properly before making illogical comments.
I wonder whether people would be able to understand this or their political leanings would make them blind to realities.