Russian: Oil became more expensive in Pakistan and cheaper in India

Russian Oil & India Pakistan: Is Russian Oil the reason for falling oil prices in India?

 What is the reality of Former PM Imran Khan claim to buy cheap Russian oil?

Pakistan on Thursday witnessed a sharp reaction after Finance Minister Muftah Ismail announced a Rs 30 increase in prices of petroleum products. In response, many questions were raised by various sections including comparisons with oil prices in India how the government was able to raise the price of petrol there what is India policy on oil purchases with Russia. Why can not Pakistan make such a policy? British news Urdu had published the following article on May 22 around these questions which is being republished on  website in view of this latest discussion.

Russian Oil & India Pakistan: Is Russian Oil the reason for falling oil prices in India?

Russian Oil & India Pakistan: Is Russian Oil the reason for falling oil prices in India?

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India announcement to buy cheaper oil from Russia & reduce prices of petroleum products in the country by about Rs.

In India Finance Minister Nirmala Sita Raman said in a series of tweets that  government is going to reduce petrol & diesel prices from May 22 and give discounts on other things.

According to his tweet central government has announced a reduction in excise duty on petrol and diesel by Rs 8 and Rs 6 per liter respectively. As a result the price of petrol will be reduced by at least nine rupees fifty paise per liter while  price of diesel will be reduced by seven rupees.

Announcing this on Twitter Indian Finance Minister asked the states to follow suit. He particularly appealed to the states which had not reduced their wages since  waiver was announced in November last year.

It may be recalled that in November government had announced a reduction of Rs 5 after a series of price hikes.

price of petrol and diesel in India depends on the taxes levied by the state governments in addition to the taxes of central government.

It may be recalled that between March and April this year there was a 14 fold increase in oil prices, which resulted in a total increase of Rs. The last increase was 80 paise per liter on April 6.

Nirmala Sita Raman wrote with the announcement that due to this exemption, the government will incur a revenue loss of one lakh crore rupees. People are talking about it too.