Rising Petrol and diesel prices in India

Get Started. It's Free
or sign up with your email address
Rising Petrol and diesel prices in India by Mind Map: Rising Petrol and diesel prices in India

1. Why in news

1.1. Petrol and diesel prices have reached record high in India

1.1.1. Petrol 100 Rs In Rajasthan

1.1.2. Diesel 85-90 Rs in various states

2. Reasons

2.1. Petrol and diesel prices are decontrolled by Government

2.1.1. Linked to global crude oil prices If global crude oil prices fall Retail prices of petrol and diesel fall Government didn’t decrease fuel prices If global crude oil prices rise Retail prices of petrol and diesel rise Government generally increases price of fuel if this happens present rise in prices Crude oil price $60 per barrel from $40 per barrel because of increase in global demand

2.2. Controlled production of crude oil

2.2.1. By some countries Ex- Saudi Arabia Has cut its daily production by one million barrels to 8.125 million barrels

2.3. Hike in taxes

2.3.1. Central Excise duty By Central Government increased from Rs.19.98 per litre to Rs32.98 per litre From 2020-21 On petrol Increased from Rs.15.83 per litre to Rs31.83 From 2020-21 On diesel

2.3.2. Sales tax By state government

2.3.3. Reasons To boost revenue of Government

3. Effect on people

3.1. More on people who travel more

3.2. In rural areas

3.2.1. More on farmers who depend on diesel powered irrigation systems

4. Can hydrogen be used as an alternative fuel?

4.1. Seen as a replacement of fossil fuels

4.1.1. Will address pollution Oil price rise

4.2. Hydrogen

4.2.1. Most abundant element in the universe

4.2.2. Lighter

4.2.3. Energy dense

4.2.4. More efficient than burning petrol

4.2.5. Will help Transportation sector Iron and steel sectors Chemical sectors

4.2.6. Types of hydrogen Grey Hydrogen constitutes India’s bulk production Extracted from Blue hydrogen Sourced from Better than grey hydrogen Green hydrogen Generated from By products

4.3. Government measures to promote Hydrogen use

4.3.1. National Hydrogen Energy Mission 2021-22 Special focus on Green hydrogen

4.4. benefits of car running on hydrogen fuel

4.4.1. Near Zero carbon footprint Electricity to extract hydrogen comes from fossil fuels

4.4.2. Stores in tanks Like CNG

4.4.3. Lighter than heavy lithium-ion batteries Better for long haul trucks and commercial vehicles

4.4.4. Refuels in 5 minutes

4.5. Problem with hydrogen technology

4.5.1. Lack of Infrastructure Very less hydrogen stations globally Less than 500

4.5.2. Safety risk Explosion risk Highly combustible