How has the decline in petrol and diesel prices impacted India in the last 3 years
Impact of petrol and diesel prices decline over the past 3 years in India.
- Reduction in transportation costs, leading to lower prices of goods and services.
- Decrease in inflation rates due to lower fuel prices reflecting in overall cost of living.
- Boost to disposable income for consumers as expenses on fuel reduce.
- Positive impact on industries that heavily rely on diesel and petrol for production and operations.
- Improvement in trade balance as India relies heavily on imported crude oil.
- Reduction in input costs for businesses resulting in higher profitability.
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9 months ago