After LPG gas, now the prices of petrol and diesel will increase, click to read the complete update.

New Delhi. After the big increase in the prices of commercial LPG gas cylinders, now common people have fear about petrol and diesel. There is a fear that the government may make a big increase in the prices of petrol and diesel. In fact, due to the sharp rise in global crude oil prices and stable retail prices for four years, the losses of oil companies are increasing. It is believed that the prices of petrol and diesel can be increased to compensate for this loss.

According to a news by news agency PTI, government sources have not ruled out the possibility of increasing the prices of petrol and diesel in the near future. Official sources said on Friday that the possibility of increase in prices of petrol and diesel in the changed circumstances cannot be completely ruled out.

Let us tell you that the prices of crude oil in the international market increased this week to a four-year high of $ 126 per barrel. Although there has been a slight decline, prices still remain above $110 per barrel. The situation remains uncertain due to the impact on the movement of oil carriers through the Strait of Hormuz and the ongoing tension between Iran and America.

Let us tell you that after the attack on Iran by America and Israel on February 28 and Iran’s action in response, there is a period of turmoil in the international oil market. This development has disrupted supplies through the Strait of Hormuz, which handles about one-fifth of global oil trade.

Last week, a senior official of the Petroleum Ministry had said that due to retail prices remaining stable for almost four years, state-owned oil companies are incurring a loss of about Rs 20 per liter on petrol and about Rs 100 per liter on diesel. However, no plans to increase prices were announced at that time. Last year the average price of crude oil was around $ 70 per barrel, which is rising above $ 114 per barrel this month.

Earlier, Indian Oil Corporation (IOC) in a statement issued on behalf of the petroleum industry said that despite the increase in international energy prices, the prices of petrol, diesel and domestic cooking gas (LPG) are not being increased. However, public sector oil companies have increased the prices of commercial LPG, industrial diesel, five kg LPG cylinders and jet fuel sold to international airlines in line with the cost.

Analysts had earlier feared that after the voting of West Bengal Assembly elections ends on April 29, the prices of petrol and diesel may increase by Rs 25 to Rs 28 per liter. At present the price of petrol in Delhi is Rs 94.77 per liter and diesel is Rs 87.67 per liter.