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The federal government has announced a reduction in petrol prices by Re1 per litre for the upcoming fortnight, attributed to a significant decline in global fuel prices.
Petrol is primarily utilized in private transportation, including small vehicles, rickshaws, and two-wheelers.
Elevated fuel prices have a considerable effect on the financial plans of middle and lower-middle-class individuals, who predominantly use petrol for their daily commutes.
Conversely, a substantial segment of the transportation industry depends on high-speed diesel.
The pricing of high-speed diesel is regarded as inflationary, as it is mainly employed in heavy goods transport vehicles, such as trucks, buses, trains, and agricultural equipment like tractors, tube wells, and threshers.
The use of high-speed diesel notably contributes to the rising costs of vegetables and other food products.
