Lagatar24 Desk
Ranchi, Nov.6: Diesel prices have been decreased by Rs 12.23 and petrol prices have been reduced by Rs 6.15 in Jharkhand. People are now hoping that inflation will be under control and the bus, auto, and freight vehicle fares will drop. People are also looking forward to price drops for the necessary items, but market analysts suggest that relief will have to wait for the time being, as there will be no drop in transit fares, freight fares, or food prices.
With the fall in the price of diesel, there has been an increase in demand for lower passenger and freight vehicle fares.
According to Sachchidanand Singh, head of the Jharkhand Bus Owners Association, buses are already in poor condition. The situation has not been the same since Corona’s arrival. The administration refused to allow the bus fee to be raised from the start of Corona. 60% of the automobiles were still standing in a state of disarray. The driving vehicles were also harmed.
“The last time the state government had raised the bus fare was in 2008. The price of diesel has risen dramatically since that time. It is impossible to reduce bus fares in such a situation. Also, there is no guarantee that the price of diesel would not rise in the future,” he said.
Sunil Singh Chauhan, a spokesperson for the Ranchi Goods Transport Association, stated, “First and foremost, it is necessary to determine how long the diesel price drop will be effective. Oil firms would not raise the price of diesel by 25 paise or 33 paise once again. As a result, it is inappropriate to comment on the reduction in freight prices at this time.”
The increase in the price of petrol and diesel, according to Jharkhand Chamber President Dheeraj Taneja, has a direct impact on inflation. The public is impacted in a number of ways as a result of this. People who own personal vehicles have an impact on their monthly budget. The price of public transportation is likewise rising.
Besides that, companies that deal with logistics and transportation raise their prices. Rent increases have a direct impact on food prices. Trucks deliver goods from one region of the country to another on a daily basis.
In such a setting, a decline in inflation is also expected after price reductions. Farmers will profit the most from the price reductions. The Rabi crop is about to be planted. The drop in excise duty, on the other hand, will not make everything cheap right away. If the current trend continues, only then will the positive effect become apparent.
“The good news is that, following the national government’s declaration of lower excise duties on petrol and diesel, numerous states, including Bihar, Uttar Pradesh, Assam, Goa, Tripura, Karnataka, and Gujarat, have declared lower fuel VAT. Jharkhand’s administration should make a decision in this regard as soon as possible,” added Dheeraj Taneja.
Dinesh Soni, State President of the Jharkhand State Diesel Auto Driver Federation, stated that if the price of diesel has decreased by roughly Rs 12, then the passengers’ fare should be reduced as well, but the amount of the reduction will be decided at the meeting. On November 12, a meeting will be held in Ranchi to discuss the new fare, the uniform of auto drivers, and the fare chart in each car.
Following the decrease in the price of petrol and diesel, everyone is anticipating a decrease in the pace at which basic goods are sold in the market. However, specialists in the field claim that the effect of the price reduction is not immediately apparent. The general public will benefit if diesel costs remain stable or fall below this level.
Sanjay Akhouri, president of the Jharkhand Consumer Product Distributor Association, stated that if diesel costs remain low or stable, product prices may fall in the following days. Only when the companies’ transportation and production costs are minimal will the prices fall. It’ll take two to three months to complete.
