Get ready to shell out more to fill up your conventionally-powered vehicles, except CNG. Prices for both petrol and diesel have been hiked by Rs 2 per litre across the country. The announcement for it was made by our current Finance Minister, Nirmala Sitharaman, during her speech for union budget of 2019.

She pointed out that crude oil prices have come down. That gives her the leverage to review excise duties and cess applicable on petrol and diesel fuels. And, she has proposed to increase Special Additional Excise duty and, Road & Infrastructure Cess each by Rs 1 per litre on both fuels.

Presently, the per litre petrol and diesel prices in Delhi are hovering around Rs 70.5 and Rs 64.4, respectively. In April this year, the per litre petrol and diesel costs were approximately Rs 72.7 and Rs 66.3, respectively. Needless to say, the same trend is observed throughout the country. Since January 1, 2019, the petrol price has risen by Rs 1.67 per litre, whereas the diesel price has gone up by Rs 1.86 per litre. On the other hand, crude oil rates have increased by over $9 a barrel, starting with $53.8 at the beginning of the year to $63 now.

India, like all other developing and developed nations around the globe, is discouraging the use of non-renewable fossil fuels to power the transportation system. Not only will the reduced use pay dividend in lowering import costs but also help tackle the air pollution problem that the country is dealing with. The transition from internal combustion to electric power is the way forward. And, with initiatives like Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) and readying highway corridors to support EVs (electric vehicles), India is slowly but steadily taking the right steps.