International Crude Oil prices are trading at all-time-low thanks due to the Coronavirus Pandemic and the Lockdowns across the globe. Indian Government is minting money by not decreasing the prices of Petrol and Diesel. As a result, the consumers are deprived of the benefits due to the Prices crash.
Interestingly, the Pakistan Government today has reduced the prices of petroleum products in the range of 15 to 38 percent for a month to partially pass on the benefits to the consumers. The price of Petrol is slashed by 15 Rupees and Diesel by 27 Rupees. The benefit is not totally passed as the Government made some bucks by increasing the Taxes.
Even though Pakistan is no way better than India, Modi Government may take a cue from the Government there at least in this aspect. On the other side, there are reports some state Government is planning to introduce Corona Cess on Petrol and Diesel to make up for the lost income due to the Crisis.
Nagaland already introduced Cess and many Governments are considering it already.
