Petrol prices likely to come down, diesel to get expensive

Petrol prices likely to come down, diesel to get expensive

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Asia Bizz: The past year has seen an increase in the demand for diesel vehicles in the Indian market due to the high prices of petrol. But now the petroleum ministry is working on a new proposal which will slash the prices of petrol and will make diesel costlier.

This will automatically reduce the consumption of diesel and will encourage people to switch back to their petrol cars. This year, it was observed that the consumption of diesel surpassed that of petrol and the ministry is under the impression that the car owners are taking undue advantage for the commercial use.

In the recent years, the demand for diesel cars also increased and petrol vehicles are now hardly preferred by the consumers. The ministry now aims to discourage the usage of diesel and increase the usage of petrol.

Petroleum ministry is now planning to reduce the excise duty on the prices of petrol due to which the prices will come down. This will certainly decrease the running cost of petrol cars and also increase the initial investment of the diesel vehicles. In the past few months, different government bodies have suggested different measures on the issue. Meanwhile, the auto industry is waiting for the situation to be clearer.