A huge fire broke out in petrol and diesel! Prices increased by ₹ 25 in one stroke, know today’s new rate

After the fire in LPG cylinder prices, now petrol and diesel have broken the back of the common man. Private fuel retailer companies have increased the prices of oil drastically. Giant company Shell India has announced a huge increase in the prices of petrol and diesel from April 1. Before this, companies like Naira Energy have also increased the prices. Companies argue that they are incurring huge losses due to crude oil crossing $100 per barrel in the international market, to compensate for which they are forced to take this step.

Petrol prices made me sweat

In cities like Bengaluru, a sharp increase of Rs 7.41 per liter has been recorded in the prices of petrol. After this jump, normal petrol has now reached Rs 119.85 per liter, while for premium petrol customers will have to pay Rs 129.85. Since VAT and local taxes vary from state to state, prices may vary slightly in other cities. This increase is no less than a shock for those who use their vehicles for work daily.

Diesel prices made the biggest explosion

The increase in the price of diesel has shocked everyone. In one stroke the price of diesel has been increased by Rs 25.01 per liter. Now normal diesel is being sold at the rate of Rs 123.52 and premium diesel at Rs 133.52 per liter. If sources are to be believed, if the global situation does not improve, then diesel prices may go up to Rs 148 to Rs 165 per liter in the coming time. Although there is no official confirmation yet, the apprehensions have given sleepless nights to the transport sector.

Why are prices increasing?

The main reason for this fire in fuel prices is the increasing tension in the Middle East. A large part of the crude oil supply to India comes through the Strait of Hormuz, but this route is under threat due to the ongoing conflict between Iran and Israel-America. The war-like situation has created huge instability in the global oil market, causing crude oil prices to skyrocket.

According to the data, since February 28, the prices of Brent crude have increased by about 60%. India buys about 88% of its crude oil requirement from abroad, so even a slight disruption in supply directly impacts our pockets. Private companies are under more pressure than government companies because they do not get government assistance to deal with losses. For this reason, the prices of oil at private pumps are directly hurting the customers.