Petrol, diesel prices may not reduce anytime soon. Here’s why

Fuel prices remain elevated as the government is not keen on cutting high taxes levied on petrol and diesel. Domestic fuel prices are expected to increase further this month as international crude oil rates continue to rise. Here is all you need to know.

It may take a while before domestic petrol and diesel prices reduce unless the government takes a call on either lowering fuel taxes or bringing petroleum products under the ambit of Goods and Services Tax (GST). Fuel prices have been rising every alternate day since last month as state-run oil marketing companies (OMCs) increased the frequency of hikes due to firming international crude oil rates.