Petrol-Diesel became Expensive for the 9th Time this Month

Today i.e. on June 16, petrol and diesel have become expensive again. Today their prices have increased for the 9th time in this month.
 Image Credit: Dainik Bhaskar
Image Credit: Dainik Bhaskar

Today i.e. on June 16, petrol and diesel have become expensive again. Today their prices have increased for the 9th time in this month. With this increase, petrol has reached Rs 108 a liter and diesel at Rs 101 a liter in the country. Talking about Delhi, petrol has become costlier by 25 paise to 96.66 and diesel by 13 paise to Rs 87.41 per liter. So far this month, petrol has become costlier by Rs 2 43 paise and diesel by Rs 2 by 26 paise.

Petrol crosses 100 in 11 states

Petrol has reached Rs 100 per liter in 6 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, Manipur, Orissa, and Ladakh.

Inflation rising rapidly due to the cost of petrol and diesel

Wholesale inflation has reached a record level due to rising prices of petrol and diesel and increasing manufacturing costs. According to the Ministry of Commerce and Industry, the wholesale inflation rate has reached 12.94% in May. It was -3.37% in May 2020. Inflation based on the Whole Sale Price Index (WPI) rose for the fifth consecutive month in May. Earlier in April also the rate was at 10.49%. In the wholesale inflation released by the government, it was said that inflation has increased due to crude petroleum, mineral oil. Because it made petrol, diesel, naphtha, and manufacturing products expensive.

Crude oil crosses $ 74 per barrel

The US economy has almost opened up. Along with this, life is returning to normal in European countries as well. This is increasing the demand for petroleum products. This is the reason why crude oil prices are rising these days. Brent crude has crossed $ 74 per barrel in the US market.

Meeting on rising prices of petrol and diesel on June 17

Source: Google/ Image Credit: Firstpost
Source: Google/ Image Credit: Firstpost

The government can make a big decision soon to control the continuous increase in prices. The Parliamentary Standing Committee is going to meet on June 17 to stabilize or reduce the prices of petrol and diesel. Senior officials of state-owned oil companies Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited will also participate in this meeting of the committee. According to sources, in this meeting, the reason for the rising oil prices, the solution to it will be discussed.

The government earned Rs 2.35 lakh crore from petrol diesel even in lockdown

Despite the decline in the consumption of petrol and diesel in the lockdown, the central government's earnings from them have increased. In May last year, the central government had increased the excise duty by Rs 10. At that time, the Center had increased the excise duty on one liter of petrol from Rs 22.98 to Rs 32.98 and on diesel from Rs 18.83 to Rs 31.83.

Due to this, the central government earned Rs 2.35 lakh crore in the 9 months of 2020-21 itself i.e. from April to December, which is about 6% more than 2019-20. That is, where people's earnings have decreased during the Corona period, the government has earned a lot by making disaster an opportunity.

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