Petrol Diesel price today: Petrol and diesel price on fire, petrol crosses 100 in Delhi,Petrol and diesel price fire, petrol crosses 100 in Delhi
Petrol price crosses 100 in Delhi
- Petrol and diesel price hiked once again, petrol price crosses 100 in Delhi
- 36th time increase in last 2 months
- Petrol price crosses 100 for the first time in Delhi and Kolkata
Petrol and diesel prices are on fire. If we talk about Mumbai, Kolkata and Chennai including Delhi, then people’s pockets are getting loose. Its prices have increased 35 times in the last 2 months, at present the price of petrol in Delhi is Rs 110.21 i.e. very close to 100 and diesel is getting Rs 89.36 per liter. After today’s hike, petrol prices in Delhi increased by 35 paise and diesel by 17 paise, respectively.
Petrol crosses 100 for the first time in Delhi-Kolkata
At present, the price of petrol and diesel is Rs 100.21 per liter and Rs 89.53 per liter respectively. Starting from the price line of Rs 90.40 per liter on May 1, petrol rose by Rs 9.81 per liter in the last 68 days in the national capital. Similarly, diesel prices in the capital have also increased by Rs 8.80 per liter in the last two months. The hike on Wednesday is the 36th hike in prices since May 4, when state-controlled oil marketing companies (OMCs) lifted the 18-day moratorium on revising rates during the West Bengal Assembly elections.
crude oil cost
Changes in the price of crude oil in the international market directly affect the price of crude in the domestic market; This is one of the most important factors responsible for the increase in petrol prices in the Indian domestic market. Increase in international demand, low production rates and any political unrest in the crude oil producing countries of the world seriously affect the price of petrol.
Economic development in India and other developing countries has also increased the demand for petrol and other essential fuels in India. The number of people owning a personal vehicle has increased in recent times, which has contributed to the rise in the demand for petrol in India; Due to this, the price of petrol in India has increased.
mismatch of supply and demand
Oil refinery companies in India face problem in meeting the market demands due to high cost of input price of crude oil, resulting in less supply of petrol in the country and more demand. An increase in supply leads to a decrease in the price of petrol and vice versa. Oil refining and marketing companies maintain crude oil inventories for six weeks, which also affects the price of petrol and petroleum products.
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