New Delhi: The price of gasoline on Tuesday was climbed by 25 Paise per liter and diesel with 30 Paise, sending retail rates to all time, with an increase in “substantial” in offers in the coming days because international oil prices touched seven years high.
The price of gasoline in Delhi rose to the highest level of Rs 102.64 per liter and to RS 108.67 in Mumbai, according to the notices of state-owned fuel retailers.
Diesel rates also touched the highest record of Rs 91.07 in Delhi and Rs 98.80 per liter in Mumbai.
Prices are different from the state to the state depending on local tax events.
State-owned fuel retailers have in the past few days used for simple increases to harmonize domestic rates at a cost.
But with international Benchmark Brent raw jumped to $ 82.37 a barrel as a result of the OPEC + decision not to increase output more than 0.4 million barrels per day, the level of fuel bound.
“Substantial” improvement is on the card to bridge the gap between the costs and selling prices, the word industry said.
Sources say oil companies continue to increase to a simple level to anticipate correction in crude oil and the price of petroleum products in the international market.
“Oil marketing companies only make moderate improvements in the retail price of gasoline and diesel so far,” said the source.
“However, in terms of such a correction there is not there, the price increase can be substantial.” The sixth increase in fuel rates within a week has sent gasoline prices above the 100-liter Hospital in most major cities in the country on Tuesday.
Likewise, the ninth increase in prices in less than two weeks has shot the diesel level above RS 100 Mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.
International oil prices rose to a high of seven years approaching after the decision by OPEC + to maintain the increase in the gradual supply planned, even though the market faced the energy crisis.
Global Benchmark Brent jumped to $ 81.51 a barrel, while Texas Intermediate West rose to $ 77.76 per barrel.
Become a net oil importer, India prices of gasoline and diesel at a price equivalent to international prices.
Brent’s back month is less than $ 72 per barrel.
With international crude oil prices moved in both directions during July and August, there was no price increase made by Oil Marketing Company (OMC) from July 18 to September 23.
Instead, gasoline prices are cut by Rs 0.65 per liter and diesel by Rs 1.25.
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However, without pausing from soaring international prices, OMC has begun to increase the retail price of gasoline and diesel with the effects of September 28 and September 24.
Since then, the tariff has increased by Rs 2.45 Paise per liter and gasoline prices increased by Rs 1.50.
Before the cutting price of July / August, gasoline prices increased by Rs 11.44 per liter between May 4 and May 17.
The diesel level has risen by Rs 9.14 during this period.
Increasing the price of unrelenting fuel has been criticized by opposition parties demanding that the government cut customs records in two fuel to provide assistance to consumers.
The government has so far not approved the request.
Hardeep Singh Puri’s oil minister on Saturday refused to comment on high fuel prices.
Asked about the price of fuel at the ministry in the national capital on Saturday, the Puri said, “Chhodo (please leave)” Before walking away.
Increased ‘substantial’ gasoline, diesel on the card as the price of crude oil soared
