Check with seller Is biofuel the alternative to hiking fuel prices?
- Location: DELHI
biofuel the alternative? In India, diesel prices shot up by the end of June 2020, for the first time. Increasing tax components, particularly excise and value-added tax, are a key reason for moving Indian retail price of fuel in contrast to the global fuel prices. This mainly covers the income gap of central and state governments due to COVID-19 and a severe economic slowdown. A Viable and Sustainable Pricing System for Oil Products Report of the Kirit Parikh Committee, 2010 had developed timely retail prices for pets in deregulated markets. The international petroleum price in Delhi was determined to be $165 per barrel for the current petroleum price of INR 80 per liter. The international price of diesel had to be over $170 per barrel for today’s prices in mid-2020. The increase in fuel prices would certainly impact the ownership and operating cost of vehicles, the profitability and sustainability of the owners of cars, and the selection of new car buyers. Fuel prices also affect transport costs and the shift from an inefficient car to an efficient one or even the alternative fuel option depending on its availability. Some of the effects on companies that rely on transport are immediate and severe, while others have medium- and long-term consequences.
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