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Analysis: Can the BJP get the benefit of being petrol and diesel cheaper in the elections?

Saturday - December 1, 2018 4:26 pm , Category : WTN SPECIAL
Due to strong INR and cheap crude oil, price of petrol and diesel goes down
Due to strong INR and cheap crude oil, price of petrol and diesel goes down

LPG cylinder becomes cheap with petrol and diesel; BJP can get benefit in Rajasthan and Telangana Assembly elections

DEC 01 (WTN) - Petrol-Diesel cheaper, LPG cylinder cheaper and gold is also cheaper. Do really the expensive days has gone and there is a time of cheapness, or there is Assembly elections going to be held in two states, the prices of petrol-diesel and LPG are being reduced in the market so that the BJP can get benefit. The allegations on the government may be many, but in this case the government says that it has no control over the prices of petrol and diesel and their prices are now determined by oil companies as per the value of crude oil in the international market and the value of rupees.

The first thing to talk about is petrol and diesel, so the prices of both of these decrease for 10 consecutive days on Saturdays as well. With the fall in crude oil prices in the international market, continuous decline in the prices of petrol and diesel is in progress. For your information, let you know that in the past one month, petrol in Delhi has been cheaper by Rs 6.54 and diesel Rs 6.43 per liter. There is a continuation of the reduction in crude oil prices in the international market too. On Friday, the price of crude oil dropped more than one percent.

Oil business experts say that the prices of petrol and diesel can be reduced by two to three rupees per liter in the future, as Brent crude price downs around $ 27 per barrel after going to a high level of four years in October in the international market. Whereas crude oil is cheaper, the rupee has been strong against the dollar, which has resulted in cheap diesel and petrol-diesel prices in India.

Here, once again the consumers have been given relief in domestic gas cylinder i.e. LPG prices. Subsidized cooking gas cylinder has been reduced by Rs 6.52 and the subsidized LPG cylinder has been reduced to Rs 133. For your information, let you know that since June, the price of LPG cylinder was increased 6 times. The price of non-subsidized cylinders was increased by Rs 60 in the month of November. Earlier, in the month of September, the price of non-subsidized cylinders was increased by Rs 59 and price for subsidized cylinders was increased by Rs 2.94 per cylinder.

Earlier this year, during the month of April, the price of non-subsidized LPG cylinders was reduced, when the price was cut by Rs 35 per cylinder. Apart from this, the price of subsidized gas cylinders was also reduced by Rs 1.74 per cylinder.

Here, there is a decline in gold prices too. Gold prices have been declined in the Delhi Sarafa Bazar. On yesterday, the price of gold fell by Rs 65 to Rs 31,475 per 10 grams, and today its price drops Rs 75 and reaches Rs 31,400 per ten grams. According to the information, the demand of local gold jeweler has declined due to the poor demand, while gold prices have also had an impact of the strong rupee against the dollar.

While the strengthening rupee and the reduction in crude oil prices in the international market where petrol-diesel has been cheaper, the strength of the strong rupee can be seen on the prices of gold. Whatever the reason, but the political advantage of petrol-diesel, LPG cylinders and lowering of gold price can be found in the Rajasthan and Telangana Assembly elections.

When prices of petrol and diesel were increasing, the Opposition had made it weapon against the Modi government, now that their prices have come down heavily, in such a situation, the ruling BJP in the center will make this as weapon now in the election. Now it has to be seen how much it impacts of being petrol-diesel, cooking gas cylinders and gold cheaper on the people of Rajasthan and Telangana.