Brent crude, the benchmark of crude oil, has again reached the level of $ 75 per barrel on Monday. This is a matter of particular concern for India, as petrol and diesel have already crossed the Rs 100 per liter level here. In such a situation, if crude oil becomes more expensive, then the price of petrol and diesel may increase by up to Rs 3 in the coming days.
These days the crude oil market is witnessing a boom. It has climbed this week to $ 75.34 per barrel. 1 month ago it was at 69.03 i.e. it has increased by 9.1%. WTI crude is also behind it. It also closed at $71.97 a barrel this week, up from $69.98 a barrel last week.
Ajay Kedia, director of Kedia Commodity, says that economic activities have opened up due to the steady decline in new cases of corona across the world and the increasing pace of vaccination. Due to this, the fuel demand is increasing rapidly. As a result, the price of crude oil is skyrocketing.
Apart from this, the dollar index has strengthened, due to which the rupee has weakened. We import more than 80% of our crude requirement and we have to pay in dollars to buy it. In such a situation, due to the weakening of the rupee, the cost of crude oil is increasing.
Anuj Gupta, Vice President (Commodity & Currency), IIFL Securities says that in the coming days, crude oil can once again go up to $ 80. With this, an increase of 2 to 3 rupees can be seen in the price of petrol and diesel. On January 1 this year, petrol was at 83.97 and diesel at 74.12, which is now at Rs 101.19 and Rs 88.62 per liter. That is, petrol has become costlier by Rs 13.53 and diesel by Rs 14.11 in less than 9 months.
Petrol has reached Rs 100 per liter in 20 states of the country. Petrol is above Rs 100 per liter in all districts of Madhya Pradesh, Andhra Pradesh, Bihar, Maharashtra, Karnataka, Manipur, Telangana, Punjab, Sikkim, Orissa, Kerala, Delhi, Tamil Nadu, and Rajasthan.
At the same time, in many places in Jammu and Kashmir, West Bengal, Uttar Pradesh, Tripura, Nagaland, and Chhattisgarh, petrol is beyond Rs 100 a liter. On the other hand, when it comes to diesel, it is still above Rs 100 per liter in many places in Orissa, Madhya Pradesh, and Rajasthan.
Today, for the 15th consecutive day, there has been no change in the price of petrol and diesel. Earlier on September 15, the prices of petrol and diesel were reduced by 15-15 paise.
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