The government now appears to be preparing the ground for a hike in petrol prices. Crude oil prices in 2021 ranged between $50 and $90 per barrel. They rose sharply in 2022 to around $125 before settling at about $80. In fact, during 2024 and 2025, prices fell further to between $60 and $75. Despite these fluctuations, taxes imposed by both the Centre and the State kept petrol prices in Goa in the range of Rs 95 to Rs 100 per litre. Over the years, both governments and oil companies have earned windfall revenues running into billions of rupees.
Now, within just a few months of higher crude oil prices, the government wants to increase petrol prices again, placing an additional burden on the common man and fuelling inflation. Why can’t the Central and State governments, at least until the situation improves, reduce the taxes collected on petrol and provide some relief to the public?
