New Delhi: The price of gasoline on Monday was approached by 30 Paise per liter and diesel by 35 Paise, taking a total rate increase in the last week of up to ₹ 4-4.10 per liter.
Gasoline in Delhi will now cost $ 99.41 per liter with ₹ 99.11 previous while the diesel level rides from ₹ 90.42 per liter until ₹ 90.77, according to the notification of state fuel retailers.
Rates have increased throughout the country and varies from state to country depending on local taxation incidents.
This is the sixth increase in prices since the expiration of a four and a half months long hiatus in the revision of the tariff on March 22.
In four times the first four occasions, the price was upgraded by 80 Paise A liter – a steepest one-day increase because the daily price revision was introduced in June 2017. On Sunday, gasoline prices rose by 50 Paise and Diesel by 55 Paise.
Overall, gasoline prices have risen with ₹ 4 per liter and diesel with ₹ 4.10.
Prices have been on frozen since November 4 ahead of the assembly elections in countries such as Uttar Pradesh and Punjab – the period in which the cost of raw materials (crude oil) jumped around USD 30 per barrel.
The revised tariff is expected immediately after the vote count on March 10 but was postponed by several weeks.
The increase in the price of retail guaranteed from crude oil prices rose for 137 hiatus from around USD 82 per barrel to USD 120 was a large fuel retailer but belonging to the Indian oil company (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) passes on a gradual increase needed.
Moody’s investor service last week stated that the State retailer together lost around USD 2.25 billion (RS 19,000 Crore) in revenue to maintain petrol and diesel prices detained during the election period.
Oil company “needs to increase diesel prices with ₹ 13.1-24.9 per liter and ₹ 10.6-22.3 a liter on gasoline (gasoline) with the price of the underlying crude oil USD 100-120 per barrel,” According to the institutional equity box.
Crisil Research said an increase in ₹ 9-12 per liter in retail prices would be needed to pass the full pass from USD 100 per barrel of crude oil and ₹ 15-20 liter increase if the average crude oil price rose to USD 110 -120.
India is 85 percent depending on imports to meet its oil needs and retail rates adjust it to the global movement.
The post Petrol, diesel prices rise again, the sixth increase in a week first appeared on Businessely.com.