Petrol and diesel prices may come down in the country. Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, said that if the price of crude oil remains low for a long time, then oil companies will consider reducing fuel prices.

In fact, oil prices have recently fallen to a three-year low, which has increased the profits of oil marketing companies. It is possible that this decision may be taken before elections in major states like Maharashtra and Haryana.

Fuel prices were reduced by Rs 2 in March

Earlier in March, the profit margin of retailers, especially government companies, had increased due to the fall in oil prices. After this, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) had reduced the prices by up to Rs 2 following the government's order. These companies hold a 90% share in the country's oil market.

The most expensive petrol in the country is in Andhra Pradesh

Currently, the most expensive petrol in the country is in Andhra Pradesh. Here, one liter of petrol costs Rs 108.46 per liter. After this, Kerala costs Rs 107 per liter, Madhya Pradesh Rs 106 per liter and Bihar Rs 105 per liter. At the same time, the price of diesel in Andhra Pradesh is Rs 96 per liter. The price of petrol was decontrolled in 2010 by linking it to the global market and the price of diesel was deregulated in 2014.

Government reduces windfall tax on crude oil from today: From ₹2,100 to ₹1,850 per metric tonne, exemptions on diesel, petrol and ATF remain

The government has reduced the Special Additional Excise Duty (SAED), i.e. windfall tax, on the export of domestically produced crude oil. In its regular review, the government has reduced the windfall tax from Rs 2,100 per metric tonne to Rs 1,850 per metric tonne.