Will fuel prices rise after assembly polls? The Centre wants you to become ‘atmanirbhar’
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A petrol pump attendant seen filling details on a machine at Indian oil petrol pump.
Synopsis
It was a windfall for the government and oil companies when crude prices were averaging at around USD20 in FY21. Not only taxes were increased on fuel, but prices were also raised for 76 days. Also, India back then bought crude at an average USD19 to fill up strategic reserves. Time to pass on some benefits to the common man?
Dalbir Singh (name changed) has been waiting for a while to bring home a four-wheeler to replace his rickety old motorcycle. The North Delhi resident has made up his mind about the model he wants to buy, he has a pre-approved loan from his bank, and an assurance from the car dealer of a timely delivery once the booking is done. But Singh is still not making the final move.“I have been waiting for the fuel prices to soften a bit. At the current