Petrol and diesel prices within the nation rose once more sharply by 25 paise and 30 paise per litre respectively on Thursday as Oil Marketing Companies (OMCs) continued to cowl for their losses on holding again value rise for the previous 18 days as a result of state elections.
This is third enhance in gasoline prices in as many days as petrol and diesel prices rose by 15 paise and 18 paise per litre respectively on Tuesday and by 19 paise and 21 paise per litre respectively on Wednesday after 18 days break.
With Thursday’s enhance, petrol is now being retailed at Rs 90.99 a litre and diesel Rs 81.42 a litre within the nationwide capital.
Across the nation as properly the petrol and diesel prices elevated on Thursday however its quantum various relying on the extent of native levies in respective states.
Petrol prices in some states have breached the Rs 100 per litre mark whereas premium petrol has been hovering above that degree for fairly a while now.
IANS had written earlier that OMCs might start rising the retail value of petrol and diesel submit state elections as they had been incurring losses to the tune of Rs 2-3 per litre by holding the value line regardless of increased world crude and product prices. The oil corporations had already elevated the ATF prices by 6.7 per cent efficient this month.
OMCs benchmark retail gasoline prices to a 15-day rolling common of worldwide refined merchandise’ prices and greenback alternate rate. In the final fortnight world oil prices have hovered in $66-67 a barrel vary increased than the degrees when petrol and diesel prices had been final revised. Crude prices have jumped over $69 a barrel now.
The value of the 2 auto fuels had fallen by 16 paise and 14 paise per litre respectively on April 15 after a 15 day break when OMCs stored its prices static. Thereafter revision of gasoline prices have been halted.
The OMCs went on value minimize for the primary time this 12 months on two consecutive days – March 24 and 25 after holding oil prices regular for 24 days. It once more decreased the value on March 30. Thereafter, gasoline prices remained unchanged for 15 days earlier than falling once more on April 15. In all petrol prices fell by 77 paise per litre whereas that of diesel by 74 paise per litre in 2021 to this point.
Earlier, petrol and diesel prices elevated 26 occasions in 2021 with the 2 auto fuels rising by Rs 7.46 and Rs 7.60 per litre respectively to this point this 12 months.
With world crude prices at over $69 a barrel mark, the OMCs might revise gasoline prices upwards once more if there may be any additional firming up.