The election for the 18th Lok Sabha have ended with the final phase of the the seven phase election on June 1. The exit polls for that have cumulatively indicated the return of PM Modi and his BJP-led NDA for the third straight term in New Delhi.
Amul Raises Price Of Milk
With this, another development came to pass on June 2, when the country's largest dairy product company, Amul increased the prices of the one litre milk packet by Rs 2.
These new prices would come into effect on Monday, June 3. In addition, the Amul Buffalo Milk prices will be up by Rs 3 per litre.
In addition, it was on June 2, when the government's National Highways Authority of India or NHAI announced that there would be a major increase of 5 per cent on toll, across total plazas in the country.
These developments have understandably garnered a lot of traction, and many online, concerned about the post-poll developments, have raised questions on whether the same would transpire with the fuel, i.e Petrol and Diesel prices.
It is to be noted that the companies had previously indicated a price rise in fuel prices post the election, a couple of months ago.
Petrol Prices Remain Stable Globally
The petrol prices have largely remained stable over the election period. The price of petrol in Mumbai currently stands at Rs 104.32 a litre. Meanwhile, diesel stands at Rs 92.15 a litre. In Delhi, the price of petrol stands at Rs 94.72. And Diesel stands at Rs 87.62 a litre.
Some on other side of the isle have argued, that the government could not change the prices of these commodities during the past few months, due to Model Code of Conduct, that was in place during that period.
Many proponents of the government have also sighted the government's vision to eliminate fossil fuel run vehicles by 2034, as a defence for changes in prices.
It is to be noted, that crude oil prices despite attempts from the Saudi-led OPEC+ countries to artificially spike prices, but unilaterally cutting production, have remained low. In fact, price of Brent crude have only declined 1.03 per cent in the past month, as the price of crude per barrel stands at 79.55. Therefore, the a rise of fuel, therefore would fly in the face of the norm of regulating prices according to markets.
