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States can lower prices by Rs 2.65: SBI report
Highlights
States can cut petrol prices by Rs 2.65 a litre and diesel prices by Rs 2 litre, an SBI research report said. This suggestion has come at a time when the OMCs hiked fuel prices for the 15th successive day on Monday.
New Delhi: States can cut petrol prices by Rs 2.65 a litre and diesel prices by Rs 2 litre, an SBI research report said. This suggestion has come at a time when the OMCs hiked fuel prices for the 15th successive day on Monday.
“Our analysis shows that at the current crude prices and extending our analysis to 19 states (overall consumption share is 93 per cent both in petrol and diesel), the states could have gained at least an additional Rs 18,728 crore of revenue/Rs 2,675 crore additional revenue over and above the budget estimates of states revenue for every $1/barrel increase in oil prices,’’ it said.
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