Due to the steady rise in crude oil, petrol prices in the Indian market will soon reach Rs. Diesel prices are also expected to hit new record highs. Energy experts have said this.
Brent crude prices in the international market have fallen to $ 60 per barrel due to increased demand for petrol and diesel following the lock-down of supply from OPEC countries. The world. The level is over. Crude oil prices have risen 18 per cent since January 1. Brent crude is estimated to reach $ 65 a barrel a month. Crude oil could go up to $ 75 per barrel by the end of April. According to Gupta, if crude oil comes to $ 70 a barrel, the price of petrol in the Indian market is Rs 100 per liter. Diesel prices will increase at the same rate.
The speed of the April deal
Benchmark Crude Oil Intercontinental Exchange (ICE) Brent crude for the international futures market traded at $ 61.05 a barrel in the April delivery contract, up 0.58 percent from the previous Tuesday session. The West Texas Intermediate March deal on the New York Mercantile Exchange is up 0.81 percent from the previous session and up to the barrel. Trading at 58.44.
17 in 10 months
Keteya Commodity Director Ajay Kedia told Hindustan that the petrol was costing Rs 03.59 for 13 days in January and February this year alone. In the last 10 months, the price of petrol has been increased by about Rs 17 per liter. Diesel prices along with petrol are on track. This year, diesel is priced at Rs. In the last 10 months, its price has increased by more than 15 rupees.
In this way, jump in crude oil
Per barrel price (in dollars)
March 2020 20.35
April 2020 18.61
May 2020 33.50
June 2020 39.40
July 2020 40.23
August 2020 42.90
September 2020 39.80
October 2020 35.46
November 2020 45.35
December 2020 48.46
January 2021 52.23
February 2021 60.55
Source: Kedia Freight
Boom for these five reasons
1. Reducing crude oil production from APEC and allies
2. Decrease in corona and increase in demand for oil from governments stimulus packages
3. US President Joe. Biden signs shale production in the US
4. Dollar weakness against most currencies favors crude oil
5. Crude oil is on the rise due to ongoing geopolitical tensions worldwide
Delhi petrol costs Rs 87
Petrol and diesel prices rose again on Tuesday as prices of these petroleum products reached new heights. Petrol and diesel prices have increased by 35 paise per liter. After this hike, petrol prices in Delhi were hiked by Rs 87.30 per liter and in Mumbai by Rs 93.83 per liter. Diesel prices in Delhi are up by Rs 77.48 per liter in Delhi and Rs 84.36 in Mumbai.
Housing budget worsens
Most household appliances have been expensive in the last one year and especially during the Kovid period. People use subsidized LPG cylinders, for whom the subsidy is almost over. In such a situation, rising petrol and diesel prices will work to undermine the home budget and increase inflation.
Learn the price of petrol and diesel, your city again today
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