Petrol and Diesel have become essential items for majority of the world as life without transportation is even difficult to imagine. But for the past few years, there was a rise in the prices of fuel. These are natural resources, extracted from the Earth in crude form and then they are refined for proper use and not every country is fortunate enough to have these resources.
However, there is a decline in the prices of petrol and diesel nowadays; in fact, you will be shocked to know that if the government removes the tax and duty charges imposed on them, petrol and diesel will be available at a lesser price than water.
As per a report in Zee News, the price of oil last week was $29.24 (Rs. 1955.86) per barrel and one barrel contains 158 litres. With simple calculation, it is easy to make out that the cost of 1 litre of crude oil in India is Rs. 12.30 while the cost of 1 litre mineral water is Rs. 20.
The decrease in the prices of oil has helped government a lot in reducing the fiscal deficit and strengthening the economy.
