Why are petrol, diesel prices rising? - In News

Drishti IAS brings to you a new programme - In News. This programme will be covering the important news of the day from UPSC exam point of view. In particular, the aim will be to cover the basic as well as more conceptual and analytical aspects of the news being covered in the video.

In today's video, we have covered the continued rise or hike in the prices of petrol and diesel.
We have also discussed in brief about the taxation system when it comes to fuel in India.
Wr have thrown light on the challenges and the way forward as well.

Structure of the Programme -

• WHY IN NEWS?
• THE RISE IN FUEL PRICES.
• THE REASONS.
• TAXATION SYSTEM FOR FUELS IN INDIA
• IMPACTS.
• OECD
• CHALLENGES.
• WAY FORWARD.
• QUESTION

#PetrolPriceHike
#DieselPriceHike
#DailyCurrentAffairs
#DrishtiIAS
#PetrolPriceInIndia

[updates]

6:43 Why is the price going up only in India. COVID 19 was not something which struck India alone.

[Rod-bpow]

Rising prices and rising losses. Good work. Glutton.

[HS-jkfj]

Petrol prices in my city has cleared last year's prelims cut off.

[nikhilatyoutube]

I don't know whether it's me or not a lot of simps here in the comments.

[ashwinsurendran]

If prices are deregulated, then why didn't the prices decrease when international price of oil fell during covid lockdowns? Seems like a lose-lose situation for the consumer.

[rubensilvarocha]

In Europe they are rising fuel prices to move people to buy electric cars and to restrict mobility because of the carbon emission goals of 2025 and 2030. The same will happen to India.

[akshayshishodia]

rising prices of petrol and diesel indicates ASAP use of E vehicles in India in an effective and efficient manner

[akshunsharma]

The graph drawn should have GDP on Y-axis and Time on X-axis.

[sushmita]

Thank you ma'am
1.Total no of members in OPEC = 13
2. India is non-member of OECD.

[enliven]

Mam example cited by u in starting was wrong...
Petrol was never ever cheap in Mumbai than Delhi for last 30, 40 years.
In Mumbai It's even costlier than petrol in Jammu.

[krishnak]

We Even had barrel cost as 110 dollars, then also it’s less than 90 rs in India, , now with barrel around 60 or 70 Which still a long way behind the 110 dollar during the early ( 2010 2020 ) which is around 110 $ .. The exercise duty and VAT is very high that’s the reason why there is huge increase even the barrel rate is low . Also the dealer price is 2 or 3 rs on a litre on fuel ( I am not sure if this can be controlled, even if controller may be a 1 rs change ) the change should come from
Reduction in VAT and exercise . Else if the barrel become costlier for crude oil .. this look the rate goes to 150 170 rs per barrel ???

[PRaj_RD]

Could someone plz tell me why mid east oil is also considered under Brent Crude Oil, while if i m not wrong brent crude grades are labelled to oil produced/traded around North Sea... and WTI to US oil produced around Texas.

[ganeshn]

Why excise duty charges are more in India specially? Can't they have limit for that?

[twishampatidutta]

She drew the GDT - Time graph wrong. The Parameters time will be on X axis and Parameter GDP on Y axis.
Or
U need to draw the graph in different way with the shown place of parameters.

[paurushgoyal]

I came to this video to really understand how IAS officers sees this Petrol and Diesel price issue. I am so disappointed that under the slide for "Why Price are so high" and "Reasons", you did not even mention the increase in taxes done by government. Even your analysis does not cover the crude price before the COVID which had the same trend. At least for education purposes, you should not hide the facts and pass wrong information.

[aspirants]

Great contribution done by Ma'am for our future...
Thanku 😊😊🇮🇳🇮🇳

[pavanprajapat]

Currently, OPEC has 13 th members
India is not part of OPEC

[raj-nzbj]

zero tax on petrol diesel and electricity .
there are thousand other ways to earn from.

[島袋誠-zk]

i can barely understand your accent, but belive it or not i understand you way more then any US media. thanks random indian woman.

[aashkingaash]

OPEC MEMBERS - 14
OECD MEMBERS - 37
India is not the member of both.