Oil companies have once again increased the prices of petrol and diesel. In the capital Delhi, petrol is getting costlier by 26 paise to 97.76 and diesel by 07 paise to Rs 88.30 per liter. This is the 13th increase in fuel prices in June. During this, petrol has become costlier by Rs 3.53 paise and diesel by Rs 3.15 paise. Due to rising crude oil prices, their prices may increase further in the coming days.
Petrol has reached Rs 100 per liter in 14 states of the country. Petrol has reached Rs 100 in all districts of Madhya Pradesh, Andhra Pradesh, Maharashtra, and Rajasthan. At the same time, petrol has crossed Rs 100 a liter in many places in Bihar, Telangana, Karnataka, Jammu and Kashmir, Punjab, Manipur, Orissa, Chandigarh, Tamil Nadu, and Ladakh.
Petroleum Minister Dharmendra Pradhan has said that the Congress, which left the BJP millions of crores of rupees dues on oil bonds before 2014, is a major reason for the hike in diesel-petrol prices. Pradhan has said that now the BJP has to pay the principal amount and interest on those dues of Congress. He has also cited this as the reason for the rising prices of diesel petrol.
Ajay Kedia, director of Kedia Commodity, says that in October 2018, crude oil had reached $ 86. The same trend seems to be happening once again after 3 years. In such a situation, by the end of this year, crude oil can once again go up to $ 86. In such a situation, there is no hope of getting relief from the rising prices of petrol and diesel in the coming days. Right now raw bullion is trading near $75.
Ajay Kedia says that economic activities have opened up due to the steady decline in new cases of corona across the world and the increasing pace of vaccination. Due to this, the fuel demand is increasing rapidly. As a result, the price of crude oil is skyrocketing. The dollar index has strengthened on indications that the US Fed will raise interest rates soon, due to which the rupee has weakened. We import more than 80% of our crude oil requirements and we have to pay in dollars to buy it. In such a situation, due to the weakening of the rupee, the cost of crude oil is increasing.
On January 1 this year, petrol was at 83.97 and diesel at 74.12, which is now at Rs 97.76 and Rs 88.30 per liter. That is, petrol has become costlier by Rs 13.79 and diesel by Rs 14.18 in less than 6 months. In June, petrol has become costlier by Rs 3 27 paise and diesel by Rs 3 by 08 paise. Earlier, in the month of May, the price of petrol and diesel was increased 16 times. Petrol has become costlier by Rs 4.11 and diesel by Rs 4.69 during this period.
