New Delhi: The price of gasoline and diesel was closed again on Sunday to send rates that jump to the highest record highs throughout the country but the top government officials insisting on oil companies have not graduated in all increased oil and gas internationally increased to three years.
And have ensured a pump situation like a dry English is not seen anywhere in India.
The price of gasoline for the third consecutive day was carried out by 25 Paise per liter and diesel by 30 Paise, according to the notices of state-owned fuel retailers.
This sent gasoline prices in Delhi to the highest level of Rs 102.39 per liter and Rs 108.43 in Mumbai.
Diesel rates also touched a record high of Rs 90.77 in Delhi and Rs 98.48 in Mumbai.
Prices are different from the state to the state depending on local tax events.
Secretary Petroleum Tarun Kapoor said oil companies made their own decisions about aligning retail rates at a cost but they ensured extreme volatility was avoided.
“We are watching the situation and trying to ensure the impact of global volatility is moderated until most,” he said.
The crude oil basket purchased by India has jumped to a three-year high of USD 76.71 per barrel.
The international price of gasoline, which opposes local tariffs compared, has increased from USD 85.10 per barrel to USD 87.11 in just one day while diesel rose from USD 85.95 per barrel to USD 87.27.
Sudden surge in international oil prices follows a global output disorder but all retail increases required by such an increase are not influenced, other officials with direct knowledge of the problem.
“Just look at the LPG tariff.
They rise from USD 665 to USD 797 in one month but the oil company has not passed the guaranteed increase from it,” he added to the state-owned company absorbing many volatility.
Increases, he said, has “light to medium”.
“Some people make a big problem from a 62 percent increase in natural gas prices.
But if you see the previous rates at USD 1.79 per million English thermal units are not normal low and far below costs.
They have now risen USD 2.9.
They are still lacking From the production costs of $ 3.5 per MMBTU and of course lower than the price of USD 4.2 which is common in India a decade again, “the official said.
Naturally, the increase in natural gas prices will guarantee the increase in prices of CNG but the re-enhancement is moderated there too, he said adding international prices in the spot market last week jumped to USD 35 which had never happened before.
“Compare what is happening throughout the world, we have managed the situation well,” the official said.
“Some developed countries like England have seen dry gas pumps but you will never hear about such situations anywhere in India.
Our oil companies not only moderate retail prices but also ensure inventory without interruption.” Officials say India believes its situation internationally is temporary and abnormal and things that must stabilize for a few days and weeks.
The fifth increase in the tariff in less than one week has sent gasoline prices above Rs 100 in most major cities in the country.
Similarly, the eighth price increase in 10 days has shot the diesel level above RS 100 Mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.
Indian Oil Corp.
(IOC) state, Bharat Petroleum Corp.
Ltd.
(BPCL) and Hindustan Petroleum Corp.
Ltd.
(HPCL) continued the daily price revision on September 24 after international oil prices approached three years.
Global Benchmark Brent Crude traded above USD 78 per barrel.
In eight price increases since September 24, Diesel rates rose 2.15 Paise per liter.
Gasoline prices have increased by Rs 1.25 per liter in five installments this week.
When international oil interest rates fell in July and August, the retail price of gasoline and diesel in the Delhi market was reduced by Rs 0.65 and Rs 1.25 per liter.
Before that, gasoline prices increased by 11.44 per liter between May 4 and July 17.
The diesel level has risen by Rs 9.14 during this period.
India relies on imports to meet nearly 85 percent of its oil needs so that the benchmark for local fuel tariffs to international oil prices.