After LPG, will petrol and diesel also set fire? CRISIL report claims increase of ₹ 5, know today’s rates

Once again big and shocking news is coming out on the inflation front for the general public of the country. On one hand, there has been a huge increase in the prices of domestic LPG cooking gas cylinders for the second time in the last three months in the country, while on the other hand, everyone’s eyes are now on whether petrol and diesel are also going to become costlier? A big update has come from the oil companies regarding the new prices of petrol and diesel, which is very important for you to know.

According to the latest data of Indian Oil Corporation Limited (IOCL), there has been no change in the prices of petrol and diesel in the last two weeks in the four major metros of the country (Delhi, Mumbai, Kolkata and Chennai). It is also a matter of relief that on Friday a huge fall of more than 2.50 percent was recorded in the prices of crude oil in the international market.

₹5 may increase further, CRISIL report scares

Even though the prices of crude oil may have fallen in the international market, a report by rating agency Crisil regarding the domestic market has increased the tension of the general public. This CRISIL report clearly states that if petroleum companies are to be saved from the huge losses they are incurring at present, then it is very important to increase the prices of petrol and diesel by at least Rs 5 per litre.

Let us remind you that between May 15 and May 25 last month, oil companies had increased fuel prices four times. Within just 10 days, there was a bumper increase of about 8 percent in the prices of petrol and diesel.

Crude oil prices fell in the international market, but how long will the relief last?

On the last trading day of last week, a softening of crude oil prices was seen in the international market. US crude (WTI) prices fell by 2.69 percent and closed at $ 90.54 per barrel. On the other hand, the prices of Brent crude of Gulf countries also closed at $ 93.09 per barrel with a weakness of 2 percent.

This decline is also important because just a few days ago, the prices of crude oil had once again crossed $ 100 per barrel, due to which the fear of all-round inflation in the country had deepened. However, market experts believe that this trend of fluctuations in crude oil prices may continue in the coming days.

Know what are the rates of petrol and diesel in your city today

According to IOCL, currently oil prices remain stable in all four metros. Today the prices in big cities of the country are as follows:

country’s capital Delhi Even today petrol is being sold at Rs 102.12 per liter and diesel at Rs 95.20 per liter. Kolkata In India, the price of petrol stands at Rs 113.51 per liter and the price of diesel at Rs 99.02 per liter. Whereas, the financial capital of the country Mumbai In India, the price of petrol remains at Rs 111.21 and the price of diesel remains at Rs 97.83 per liter. major metropolitan cities of the south Chennai Talking about petrol, here today petrol is available at the rate of Rs 107.77 and diesel at the rate of Rs 99.55 per liter.

This is how the ‘knife’ of oil was used on the pocket in the month of May.

If we look at the data after the second week of May, there was a huge jump of about 8 percent in the prices of petrol and diesel. It started on May 15, when petrol became costlier by Rs 3 and diesel by Rs 3.29 per litre. Soon after this, on May 19, the prices of both were again increased by 90 paise per liter.

This journey of inflation did not stop here, on May 23, another increase of 87 paise per liter in petrol and 91 paise in diesel was seen. After this, at the end of the month i.e. on May 25, the oil companies gave the last blow by making petrol more expensive by Rs 2.61 and diesel by Rs 2.71 per liter.

LPG cylinder also becomes costlier, big increase of ₹ 29

Amidst this old pain of petrol and diesel, now the consumers of domestic LPG cylinders have also got a big shock. The price of LPG in the country has been directly increased by Rs 29 per cylinder. This is the second major increase in three months as government oil companies continue to face huge challenges due to the turmoil in the global energy market.

According to industry sources, the price of 14.2 kg domestic LPG cylinder in Delhi has increased from Rs 913 to Rs 942 since June 7. Earlier, when the global energy supply was disrupted due to the ongoing tension in West Asia, the price of a cylinder was increased by Rs 60 on March 7 following the increase in international fuel prices. If sources are to be believed, before this new increase, government oil companies were incurring huge losses of about Rs 703 on every LPG cylinder sold.