By end of Market hour today (24.08.2021), the price of Crude Oil closed at Rs.5000 / Barrel. We comfortably crossed Rs.100 per Litre on Petrol now. The data below is near approximate as the price changes day by day
Increase in Petrol and Diesel price will directly increase cost of every product, which is mainly due to the increased price of transportation. This increase will increase the inflation rate. This is one of the biggest issue, which our government should look into
People may also argue, if we get electric vehicles the cost might decrease. Certainly not, Electric vehicles are currently not possible for trucks and long distance transport vehicles in India. Electric vehicles can be used for personal transportation. Hence they need to depend on Diesel trucks and those are the vehicles used for grocery to industrial raw materials transportation, which has already increased their transportation cost
* Data subjected to change as raw material and tax price changes
This is how the price of petrol and diesel calculated in India. You can see the price difference before and after tax. There is a need of finding an alternate or we need to use the fuel very efficiently inorder to reduce the expense and save more to invest
Now, think about the inflation rate. If we travel with this kind of increased cost in petrol and diesel, will our salary alone be sufficient to run a family going forward or do we need to invest in a business which can work 24/7 even when we sleep ?
Let us see what is the Tax imposed on 2014, 2017 and 2021
Tax Paid Vs Total cost of the Fuel
Price of Petrol and Diesel in other major cities in India
Let us think of generating great wealth later. First, let us think of the Inflation rate and plan well in advance and be prepared.
Have a Great Day
B G Nareshkumar
No comments:
Post a Comment