Fuel prices have been a headache for almost every consumer in India for last few months. It is due to the rapidly rising prices across the country. Both Petrol and Diesel prices have hit Rs 100 at some point or other in the last few months across India. However, according to SBI economists Petrol might drop down to Rs 75/ l, while diesel might drop to Rs 68/ l.
The economists at India leading bank State Bank of India (SBI) has opined that the price of petrol and diesel per litre can be significantly reduced if brought under the ambit of GST. The petrol prices will hover around Rs 75/ l while diesel prices will be around Rs 68/ l.
However, it is quite unlikely that this idea can be considered in the Goods and Services Tax (GST) Council meet scheduled this Friday, expressed the economists.
Keeping in mind about the current prices of petrol and diesel in the country any move by the GST council in bringing down the prices of fuels will be welcomed by the common men. Currently the prices for petrol and diesel in national capital New Delhi are Rs 101.19/l and Rs 88.62/l.
On the other hand, in Odisha’s capital Bhubaneswar, petrol costs Rs 102.04/ l while diesel costs Rs 96.61/l on September 15.