Business

Petrol and Diesel Prices are Increasing Continuously

Diesel crosses Rs 75 in Delhi, prices rise for 10th consecutive day

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The price of diesel in Delhi has crossed Rs 75 per liter. The price of diesel has been increased by 57 paise per liter today. With this, the price of one liter diesel in Delhi has increased to 75 rupees 19 paise. On Monday, 15 June, the price of one liter diesel was 74 rupees 62 paise.

Petrol and diesel prices have increased for the 10th consecutive day. Today, the price of diesel in the capital has crossed Rs 75 per liter. Diesel has registered an increase of 57 paise per liter today. With this, the price of one liter diesel in Delhi has increased to 75 rupees 19 paise. On Monday, 15 June, the price of one liter diesel was 74 rupees 62 paise. On Monday, the price of diesel was increased by 59 paise.

Image Credit: Auto Deals

10th consecutive day hike

If we talk about petrol, then the price of petrol has increased by 47 paise today. Petrol prices in Delhi are now 76.73 paise per liter. Yesterday i.e. Monday, 48 paise increase in petrol prices was recorded in Delhi. On Monday, one liter petrol was being sold in Delhi for Rs 76.26.

The process of increase started from June 7

Petrol diesel prices are increasing daily from 7 June. Earlier, companies had not made any change in the price of petrol and diesel for about 12 weeks. After June 7, on the basis of crude oil prices in the international market, the prices of petrol diesel in India are increasing.

After 10 consecutive days of increase, the price of petrol and diesel has increased by more than Rs 5 per liter.

Why companies are increasing the prices of petrol and diesel?

Image Credit:Steel Guru

At the same time, in the international oil market, there is a period of decline in the prices of crude oil. Today, the price of Brent crude oil was $ 39.65 per barrel in the international market. Due to Corona virus infection, crude oil prices have remained stable for almost 3 months worldwide.

Crude oil prices have started strengthening in many countries as soon as the lockdown opens and the rupee continues to fall against the dollar. The reason for this is that petroleum companies in India have started putting their burden on the customers while protecting themselves from losses. Experts believe that petrol and diesel prices may increase further in the next months, as oil companies will try to make up for their losses. Petrol-diesel sales were almost at a standstill due to transportation being completely stalled in the midst of lockdown, and oil companies have suffered a lot due to this.

It is important to note that international prices of crude oil and rupee-dollar exchange rates are very important in deciding the price of petrol and diesel. Recently due to rising crude oil prices and rupee depreciation against the dollar, oil companies started raising petrol and diesel rates as soon as the lockdown opened.

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