{"id":282087,"date":"2019-07-15T05:32:03","date_gmt":"2019-07-15T05:32:03","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=282087"},"modified":"2019-07-15T05:32:03","modified_gmt":"2019-07-15T05:32:03","slug":"how-higher-fuel-prices-are-aiding-rescue-of-psbs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/how-higher-fuel-prices-are-aiding-rescue-of-psbs\/","title":{"rendered":"How higher fuel prices are aiding rescue of PSBs"},"content":{"rendered":"<p>1) How has the price of oil moved over the last five years?<\/p>\n<p>In May 2014, when Narendra Modi was elected prime minister for the first time, the price of the Indian basket of crude had averaged $106.85 a barrel. Since July 2014, the price of the Indian basket of crude has largely shown a downward trend, averaging $69.88 a barrel in March this year. As of 11 July, its price was even lower\u2014$66.57 a barrel. Therefore, between May 2014 and now, the price of the Indian basket of crude oil has fallen close to 38%. Nevertheless, there hasn\u2019t been a similar fall in the retail prices of petrol and diesel. The question is why.<\/p>\n<p>2) Why have petrol and diesel prices not fallen proportionately?<\/p>\n<p>In April 2014, the total central government taxes on petrol and diesel were \u20b910.38 a litre and \u20b94.52 a litre, respectively. In July 2019, the total taxes on the fuels are \u20b919.98 a litre and \u20b915.83 a litre, respectively. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>1) How has the price of oil moved over the last five years? In May 2014, when Narendra Modi was elected prime minister for the first time, the price of the Indian basket of crude had averaged $106.85 a barrel. Since July 2014, the price of the Indian basket of crude has largely shown a downward trend, averaging $69.88 a barrel in March this year. As of 11 July, its price was even lower\u2014$66.57 a barrel. Therefore, between May 2014 and now, the price of the Indian basket of crude oil has fallen close to 38%. Nevertheless, there hasn\u2019t been [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-282087","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=282087"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282087\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=282087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=282087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=282087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}