Question

you have observed that cial crises and increases prices of petrol products.explain in detail​

Answer 1

Explanation:

etrol and diesel rates in the country have sharply increased after the latest round of fuel price hike by oil marketing companies (OMCs). Experts have said the continuous increase in fuel prices will have a widespread impact on citizens and the overall economy.

Petrol is now retailing above Rs 90 per litre in all major cities including Delhi and is on the verge of crossing Rs 100 in major cities. It has already hit a century in some circles. Diesel, too, has climbed to levels never seen before in the country.

The situation is so bad in some places that people are walking extra miles to buy cheaper fuel or smuggling it from neighbouring nations. A recent report indicated that some people in Bihar’s Araria and Kishanganj region are crossing the border to smuggle petrol from Nepal.

While India Today could not independently verify the report, the historic rise in fuel prices will definitely have a devastating impact on the economy, which is still recovering from the Covid-induced crisis.

Answer 2

Answer:

Former Union petroleum minister Dharmendra Pradhan said, “Due to an increase in prices of crude oil in international markets, consumer price (for petrol and diesel) has risen. This will soften gradually. Global supply was reduced due to Covid in turn affecting production as well.