Tag: Petrol Prices

Piyush Goyal On Rising Petrol & Food Commodities Prices In India

Thrice in just four days! After a day’s pause, Petrol and Diesel prices were increased for the third time in four days after two straight hikes across the country. The fuel prices were hiked by Rs 80 paise per litre each on Friday.

According to CRISIL Research, a hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices.

Man Buys Horse For Daily Commute To Work

Petrol Price Cut By Rs 25 Per Litre By This State CM

Petrol and diesel prices continue to post a steep rise in Odisha, leaving consumers shocked and worried. Needless to say, the common man’s monthly budget has been hit hard by the unabated rise in fuel prices. As on today, petrol price in Malkangiri breached Rs 115/L, which is maximum in the state.

What is interesting is that gas suppliers to CNG and PNG markets have made lofty margins in the pandemic period due to non revision of piped natural gas and compressed natural gas prices during the inadequacy when the cereal gas prices had fallen globally due to demand compression and lockdowns.

Diesel is now available at over Rs 100 a litre in several parts of the country.

The hike in fuel prices has also affected the prices of other essential commodities like oil, pulses and vegetables, setting kitchens on fire.

There has been a constant rise in the prices of petrol and diesel for the past six days and the rates are soaring at an all-time high. The prices of petrol and diesel remained steady on October 4, 2021 but saw a hike after that.

Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $8-9 per barrel as compared to average prices during August.

The sixth increase prices eight days has shot up diesel rates above Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.

In Mumbai, the petrol price was stable at Rs 107.26 per litre while the diesel rate increased to about Rs 96.40 a litre.

After falling, global crude oil prices had firmed up over the past week to cross $73 a barrel mark.

The oil prices have declined on concerns of growing Covid cases, slowing industrial recovery globally and rising US oil inventory.