India's oil price soars to a new high
4hw.com.cn: Recently, a rise in India has attracted attention. According to Indian media recently, the oil price in New Delhi, India has soared to the highest level in four years, and people are furious about it. So what's the price in India? Why is the price of oil soaring in India? Let's get to know.
On April 1, the price of gasoline in New Delhi reached 73.73 rupees per litre (about 7.12 yuan), while the price of diesel reached a record high of 64.58 rupees per litre (about 6.24 yuan). The organization of Arab Petroleum Exporting Countries (OPEC) recently controlled crude oil production, while the international demand for crude oil remained high, resulting in a rapid rise in oil prices.
On September 14, 2014, the price of gasoline in New Delhi reached 76.06 rupees per litre (about 7.3 yuan). On February 7, 2018, New Delhi diesel set a record price of 64.22 rupees per litre (about 6.2 yuan).
Lack of government regulation
Since 2017, Indian state-owned oil companies have been regulating oil prices. In 2017, the central government proposed to reduce the value-added tax of 2 rupees per liter of gasoline and diesel oil to ease the pressure on the people caused by the rise of international crude oil prices. However, many governments refused to cooperate. Only Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh reduced the value-added tax.
From November 2014 to January 2016, the Indian government raised the price of gasoline and diesel nine times. In the 15 months, the price of gasoline and diesel increased by 11.77 rupees (1.14 yuan) and 13.47 rupees (1.3 yuan) respectively.
Among the countries in South Asia, India has the highest oil price.
Rama bull gopal, head of the Indian oil company, said India's latest Euro 6 gasoline standard had no impact on oil prices. Although oil companies have invested heavily in this, the relevant costs will not be transferred to New Delhi consumers for the time being.
People complain
In the face of high oil prices, Indian netizens have something to say.
Netizen Jitendra Narayan Tripathi wrote: 'when the oil price was high, the government was crying against the Congress. Now they don't say anything. Let's see how we vote in 2019! The officials come and go, and the people who suffer are always the people. '
Karun Gautam said: 'I'm not sure what the Indian government is doing. In 2012 and 2013, the international crude oil price was nearly 120 US dollars (about 754 yuan) a barrel, and the domestic oil price also soared to nearly 80 rupees (about 7.7 yuan) a litre. But now, the international crude oil price is only $65, but why hasn't India's oil price come down? Has all the money gone into the Indian oil company's pocket? "
Ravi Kant Sharma, a netizen, angrily said: 'this government is the worst, the problem can't be solved, and the whole situation is out of control. When all the prices in the market soar, the officials are sleeping. '