Petrol and diesel will empty the pockets of the common man

State-owned oil companies have hiked petrol-diesel prices. Today, the price of diesel has gone up by 13 to 18 paise. Petrol price has gone up by 33 to 35 paise. In Mumbai, petrol has gone up by more than Rs 106. In Mumbai, petrol is priced at Rs 106.25 and diesel at Rs 97.09. In Delhi, the price is Rs 100.21 per litre, while diesel is Rs 89.53 per litre.

Petrol in 20 states and diesel in 3 states crossed 100

Petrol has reached Rs 100 per litre in 16 states of the country. Petrol has reached Rs 100 in all districts of Madhya Pradesh, Andhra Pradesh, Bihar, Maharashtra, Karnataka, Manipur, Telangana, Sikkim and Rajasthan. At the same time, petrol has crossed Rs 100 a litre in many places in Jammu and Kashmir, Punjab, Orissa, Chandigarh, Tamil Nadu, Kerala, West Bengal, Pondicherry, Tripura and Ladakh. On the other hand, when it comes to diesel, it has gone above Rs 100 in Orissa, Rajasthan and Madhya Pradesh.

So far this year, petrol has become costlier by Rs 16.24 and diesel by Rs 15.41

On January 1 this year, petrol was at 83.97 and diesel at 74.12, which is now at Rs 100.21 and Rs 89.53 per litre. That is, petrol has become costlier by Rs 15.89 and diesel by Rs 15.41 in 6 months.

Crude oil price drop

In the meeting of the Organization of Crude Oil Producing Countries, OPEC+ (OPEC+), some concrete decision could not be taken. Therefore, there was a huge rally in the crude oil market on Monday. But it could not sustain as soon as the market opened on Tuesday morning. Brent crude had broken 3.72 percent in the US market till 12 noon on Tuesday. At the close of trading that evening, Brent crude was at $ 74.53 a barrel, which is $2.52 lower than the previous Monday. On Monday, the price of crude oil reached the highest level of 6 years since November 2014 at $ 76.98 a barrel. Had gone.

The recovery of the global economy recovering from the Corona epidemic is dependent on the ability of oil producing countries to control the oil market or their price wise. There is a similar situation in India as well. The stalemate in talks between OPEC+ countries has bleak prospects of a production increase after August. The demand for oil is increasing after the increase in economic activity, but due to lack of increase in production, there is a supply crisis.

Latest articles

Debt Recovery Ecosystem in India, Impact of Phygital Debt Collection, and the Way Forward: Mobicule Technologies’ Siddharth Agarwal

In the past few years, India has observed a massive transformation across industries owing to digitisation, new communication channels, and stringent regulatory...

HMD Global Launches Nokia C32: Fashionable Design, Powerful Imaging, and Android 13!

HMD Global, the leading manufacturer of Nokia phones, has announced the launch of the Nokia C32, the latest addition to the popular...

Indian govt likely to reopen semiconductor application worth $10 billion to attract global chip companies

A day after India's IT Minister Ashwini Vaishnaw interacted with the leadership team of  Semiconductor Equipment and Materials International (SEMI), which is the...

Gautam Adani Climbs to Top 20 on Billionaires List with a Net Worth of $64.2 Billion

Indian business tycoon Gautam Adani, chairman of the Adani Group, has achieved a significant milestone by reentering the top 20 on the...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here