In Rajasthan, the phase of increase in the prices of petrol and diesel has started again. For the third consecutive day on Saturday, the price of diesel in Jaipur has increased by 32 paise and that of petrol by 26 paise per liter. After this, a liter of petrol in Jaipur has reached 109 rupees 14 paise, while diesel has reached 99 rupees 77 paise per liter. Which is the highest ever in history.
Worldwide crude oil prices have started rising once again. As a result of this, Brent crude, the benchmark of crude oil, has crossed the level of $ 78 per barrel. Crude oil has reached a record high of 3 years. Earlier in September 2018, it had reached $80. In such a situation, due to the increase in the price of crude oil, the prices of petrol and diesel may increase further in the coming days.
Central excise and state taxes account for 60 percent of petrol prices. Whereas in diesel it is 54 percent. Central excise duty on petrol is 32 rupees 90 paise per liter. Whereas on diesel Rs 31 is 80 paise per liter. Petrol and diesel prices usually change daily. These prices are determined on the basis of benchmark international crude prices and foreign exchange rates.
In April last year, due to the Corona epidemic, economic activities came to a standstill across the world. Due to this, there was a fall in the demand for crude oil. But this year, the demand for crude oil has increased worldwide after the rate of vaccination increased and the relaxation in Corona guidelines.
However, economic recovery is not the only reason for the rise in crude oil prices. Last month, due to Hurricane Ida, the supply of oil in America was severely affected. There was a drop in prices after the first wave of Corona. After this, the oil organizations of OPEC Plus, Russia, and Saudi Arabia reduced the supply.