Raipur. After the reduction of Rs 100 on LPG, the public may also get the gift of reduction in the prices of petrol and diesel in the coming days. Oil companies have started reviewing their prices before the elections by reducing their prices by Rs 5-10 per liter. The prices of petrol and diesel have remained stable for the last 23 months. Oil companies are also earning profit on their sale. According to sources, oil companies have reviewed this matter. He believes that the prices of petrol and diesel can be reduced by Rs 5-10 per liter. The government last reduced the excise duty on petrol by Rs 8 and diesel by Rs 6 in April 2022. On the other hand, since then there has been a continuous decline in the price of oil in the international market. Crude oil, which was once available at $109 per barrel, came down to $84 per barrel.
But the oil companies did not reduce the retail oil prices. It was told that the oil companies are not reducing the prices to compensate for the previous losses. During this period, oil companies earned Rs 10 per liter on petrol and about Rs 5 per liter on diesel. Due to this, oil companies got profit of thousands of crores of rupees. It is believed that before the announcement of general elections, the price of petrol and diesel can also be reduced. However, a senior official of Indian Oil said that oil prices can be reduced even after the election announcement. The reason for this is that oil prices are free from government control.
