The All India Motor & Goods Transport Association (AIMGTA) has called on the central government to reduce petrol and diesel prices, emphasizing that the significant drop in international crude oil prices should benefit consumers and the transport sector, as reported by PTI.
Global Crude Decline Creates Room for Reduction
In a representation submitted to the government, the association highlighted that global crude oil prices have declined from approximately $104 per barrel to around $90 per barrel. This sharp decrease, according to AIMGTA, provides adequate scope for lowering domestic fuel prices. The transporters' body argued that elevated fuel costs continue to exert pressure on transport operators and have escalated logistics expenses throughout the supply chain.
Inflationary Pressures and Consumer Impact
The association noted that rising fuel and transport-related costs are contributing to inflationary pressures, adversely affecting both businesses and consumers. By reducing petrol and diesel prices in line with the international crude oil price trend, the government can alleviate these pressures. AIMGTA urged the authorities to provide much-needed relief to the transport sector, which is a backbone of the economy.
Such a move would help reduce operating costs for transporters, ease inflationary trends, and offer tangible relief to end consumers. The association believes that passing on the benefits of lower crude prices is essential for maintaining economic stability and supporting the logistics industry.
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