Gasoline, the price of diesel climbs again, the fourth time in five days

Posted by harsh sultayia on March 26th, 2022

The price of gasoline and diesel is carried out by 80 Paise one liter every day, the fourth increase in five days because the oil company is forwarded to consumers a surge in raw materials.
Gasoline in Delhi will now cost ? 98.61 per liter with ? 97.81 previous while the Diesel level rides from ? 89.07 per liter until ? 89.87, according to the notification of state fuel retailers.

All four increased from the end of the hiatus for four and a half months in the revision of the tariff on March 22, it has consisted of 80 Paise per liter. This increase increased was the steepest one-day increase because the daily price revision began in June 2017.

In four increases, the price of gasoline and diesel has risen up to ? 3.20 per liter.

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 revision of the tariff is expected immediately after the assembly selection ended on March 10 but was postponed.

The oil company, which did not revise the gasoline and diesel rates for a record 137 days despite the price of crude oil (raw materials for producing fuel) rose to USD 117 per barrel compared to around USD 82 in early November, now conveying to consumers needed an increase in stages.

Moody Investor Service on Thursday stated that Indian Oil Corporation (IOC) Fuel Retailers, Bharat Petroleum Corporation Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) together lost around USD 2.25 billion (RS 19,000 Crore) In income to maintain gasoline and diesel prices are 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.