Petrol-Diesel Price Today: In the country’s capital Delhi, the price of one liter of petrol has crossed Rs 100 today. Today petrol has become costlier by 35 paise and diesel by 17 paise per liter. Petrol is being sold expensive by Rs 100 and 21 paise a liter in Delhi today. At the same time, the price of diesel is Rs 89.53 per liter. Earlier on Monday, petrol became costlier by 35 paise per liter.
Petrol became costlier by Rs 9.81 in two months
Fuel rates across the country have reached new highs through several hikes in the last two months. Starting from the price line of Rs 90.40 per liter on May 1, the price of petrol in the national capital has now gone up to Rs 100 by 21 paise per liter, which is a sharp increase of Rs 9.81 per liter in the last 68 days. Similarly, diesel prices in the capital have also gone up by Rs 8.80 per liter in the last two months. In the 61 days between May and June, the price increased for 32 days.
Oil companies executives have consistently raised fuel prices to fuel growth in global oil markets, leaving product and crude prices for the past few months trading firmly on demand growth amid the slowing pace of the pandemic. . However, a closer look at retail fuel prices in India gives a picture that it is the high level of taxation that keeps fuel rates high even at a time when global oil prices are stable.
Globally, the price of crude oil is now $ 77 per barrel
Globally, the price of crude oil is currently trading above $ 77 per barrel. In October 2018, it was over $80 a barrel and even the petrol prices across the country were around Rs 80 a liter. But, now with the low global oil prices, petrol rates have gone up to Rs 100 and have now exceeded it by a wide margin in many parts of the country.
Officials said fuel prices may rise again in the coming days and the only way to bring down retail prices in this period is through tax cuts by both the Center and the states. Growth is also expected as the oil cartel OPEC has failed to reach an agreement on increasing production to meet rising oil demand.