During the occasion of Bakrid, several cities in the country witnessed a decline in the prices of petrol and diesel. Prior to this, there was an increase in the prices of petrol and diesel on June 24. Today, on June 29, the price of petrol has decreased by 28 paise per liter, while the price of diesel has decreased by 27 paise per liter.
Introduction
As Bakrid festivities unfold across the nation, several cities have witnessed a notable decrease in petrol and diesel prices. This comes as a welcome relief to consumers who experienced a recent surge in fuel prices on June 24. The current decline in fuel prices, observed on June 29, brings relief to consumers’ pockets.
Impact of Price Reduction:
providing respite to local consumers. Guwahati, located in Assam, saw a drop in petrol prices from ₹90.55 per liter to ₹90.27 per liter. Meanwhile, in Imphal, Manipur, the price of petrol decreased from ₹90.26 per liter to ₹89.98 per liter.
Factors Influencing Price Changes:
The fluctuations in petrol and diesel prices are influenced by various factors, including global crude oil rates, currency exchange rates, taxes, and government policies. The dynamic nature of these factors necessitates regular monitoring and adjustment of fuel prices to maintain a balance between consumer affordability and market dynamics.
As Bakrid celebrations unfold, the decrease in petrol and diesel prices across multiple cities brings respite to consumers and enhances their ability to manage expenses during the festive season. The decline in fuel prices, particularly in northeastern cities, showcases the ongoing efforts to provide affordable and accessible fuel to individuals residing in these regions. The periodic adjustments in fuel prices reflect the complex interplay of global and domestic factors, and the government’s commitment to ensuring a balance between market dynamics and consumer welfare.
