Petrol and Diesel Prices May Drop as Cheaper Crude Reaches Refiners
Union Petroleum and Natural Gas Minister Hardeep Singh Puri has signaled that retail petrol and diesel prices could see a downward revision in the near future. This potential relief depends on the arrival of lower-priced crude oil stocks at Indian refineries to replace current high-cost inventories.
The Lag Effect: Why Prices Haven't Dropped Yet
While international crude prices have shown signs of softening, Minister Puri explained that the benefits will not reflect at the pump immediately. Currently, Oil Marketing Companies (OMCs) are processing stocks of crude oil purchased at higher historical prices.
"When crude purchased at lower prices reaches them, there is a possibility of a reduction in fuel prices," Puri stated during a press conference in Sonbhadra, Uttar Pradesh. This "lag effect" is a standard industry reality, as refineries must exhaust existing expensive inventories before the cost savings from new, cheaper shipments can be passed on to the end consumer.
Defending Domestic Pricing Amid Global Volatility
Addressing concerns regarding inflation and rising transport costs, the Minister defended the government's handling of fuel pricing. He noted that despite significant geopolitical tensions—particularly around the Strait of Hormuz and the ongoing Middle East crisis—India has managed to shield consumers from the full brunt of global market volatility.
Puri highlighted several key points regarding the fiscal cushion provided to citizens:
- Excise Duty Cuts: The government has absorbed a burden of approximately ₹10 per litre on both petrol and diesel through multiple duty reductions in November 2021, May 2022, and more recently.
- Comparative Stability: Puri claimed that India’s price increases have been limited to about ₹7.60 per litre. He asserted that, among the 193 UN member nations, only Japan has seen a lower increase in petroleum prices than India.
- OMC Losses: To maintain stability, OMCs are currently absorbing significant losses, estimated at around ₹1,000 crore per day.
Economic Context and Regional Growth
燃料に関する議論では、より広範なマクロ経済情勢についても触れられました。最近の中東情勢の緊張により、ガソリンとディーゼルの価格は1リットルあたり約7.5ルピー上昇しましたが、政府は、2022年のロシア・ウクライナ紛争以降の実質的な価格上昇は、政策的介入によって事実上相殺されていると主張しています。
地域開発に関する別の事項では、大臣はウッタル・プラデーシュ州、特にソンバドラ地区の経済的変革を称賛しました。同氏は、ソンバドラの一人当たり所得が2018年の43,000ルピーから現在は約12万ルピーへと急増したことを指摘しました。これはウッタル・プラデーシュ州全体の成長を反映しており、同州の州内総生産（GSDP）は2016-17年度の13兆ルピーから、現在は36兆ルピー近くまで増加しています。
主なポイント
- 価格緩和のタイミング: 現在の高コストな原油在庫が、現在輸送中のより安価な原油に置き換われば、小売燃料価格は下落する可能性があります。
- 政府の補助金: 中央政府は、世界的な価格変動から消費者を守るため、物品税の減税を通じて1リットルあたり約10ルピーのコストを吸収しています。
- 石油販売会社（OMC）の財務負担: 石油販売会社は、国内価格を安定させるために、1日あたり約1,000億ルピーの損失を出しながら、深刻な運営上の圧力に直面しています。