Petrol and diesel may become costlier by Rs 4-5 again! Budget of oil companies is spoiled, know what is the price in which city today?

Business Desk – There is a possibility of increase in the prices of petrol and diesel in the country once again. Despite increasing prices four times in the month of May, government oil marketing companies (OMCs) are still facing losses. In such a situation, the prices of petrol and diesel may be increased again in the coming days.

According to the report, oil companies are currently incurring a loss of about Rs 5.5 per liter on petrol and about Rs 4.5 per liter on diesel. To compensate for this loss, there is a possibility of further increase in prices in future. During the month of May, oil companies have increased the prices of petrol and diesel by a total of about Rs 7.5 per liter.

Petrol diesel prices in different cities

There is a difference in the prices of petrol and diesel in the major metros of the country. In the national capital Delhi, petrol is being sold at Rs 94.77 per liter and diesel at Rs 87.67 per liter. Whereas in the country’s financial capital Mumbai, petrol is available at the price of Rs 103.50 per liter and diesel at Rs 90.30 per liter. In Kolkata, the price of petrol has been recorded at Rs 105.41 per liter and diesel at Rs 92.20 per liter.

Talking about major cities of Uttar Pradesh and Bihar, petrol is being sold at Rs 94.85 per liter and diesel at Rs 87.98 per liter in Noida. In the state capital Lucknow, petrol is at the level of Rs 94.69 and diesel at Rs 87.81 per liter. Whereas in Patna, the capital of Bihar, petrol has reached Rs 105.23 per liter and diesel Rs 91.49 per liter, which is higher than many other cities of the country.

Crude oil prices increased concern

There has been a sharp rise in the prices of crude oil in the international market. Before the war started, the price of crude oil was around $70 per barrel, which has now crossed $100 per barrel. Due to rising prices of crude oil, the costs of oil companies have increased and the financial pressure on them has also increased.

According to government data, Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together are suffering losses of hundreds of crores of rupees every day. According to Petroleum Ministry officials, even after the recent price increase, the companies are collectively incurring a loss of about Rs 750 crore per day.

Loss up to Rs 650 on LPG cylinder

Apart from petrol and diesel, pressure from oil companies has also increased on LPG. According to Sujata Sharma, Joint Secretary of the Petroleum Ministry, due to the rise in international prices, oil companies are facing a loss of about Rs 650 on each LPG cylinder. At the same time, a loss of about Rs 30 per liter has been reported on Aviation Turbine Fuel (ATF).

Prices did not increase for 76 days

Despite the war in West Asia and the rise in crude oil prices, the government oil companies did not increase the prices of petrol and diesel for about 76 days. After this, prices were increased in four phases in May. The prices of domestic LPG cylinders were also increased during the same period.

Commercial gas cylinder also became expensive

On June 1, the price of commercial gas cylinder was increased by Rs 40. Even before this, the prices of commercial cylinders had increased by about Rs 900. Since March till now, the prices of commercial gas cylinders have increased by more than 47 percent.

What next?

Experts believe that if crude oil prices remain high in the international market, pressure on oil companies will continue. In such a situation, the possibility of further increase in the prices of petrol and diesel cannot be ruled out.