Felt a huge shock early in the morning! There is a huge jump in the prices of petrol and diesel, check the new rate of your city.

New Delhi: This Monday morning, if you had come to fill petrol and diesel in your car before leaving for office or college, then you would have been shocked to see the changed prices on the meter of the petrol pump. The country’s government oil companies have once again hit the common man’s pocket hard. Today, for the fourth time in just 10 days, a huge increase in the prices of petrol and diesel has been recorded.

This time, the oil companies have not made any small mistake to the general public, but have increased the prices of petrol by ₹ 2.61 per liter and diesel by ₹ 2.71 per liter. Let us tell you that even before this, oil prices have been increased in the last few days, especially on May 16 and May 23. This continuous increase has completely ruined the monthly budget of the middle class and working people. From Delhi-Mumbai to Lucknow and Hyderabad, oil prices are continuously skyrocketing in every small and big city of the country. The most frightening thing is that market experts are not expecting any kind of relief right now. He says that if the conditions in the global market remain like this, then fuel may become even more expensive in the coming days.

After all, why are the prices of petrol and diesel suddenly rising?

The question arising in everyone’s mind is, what happened in the last few days that oil prices suddenly started increasing so rapidly? According to market experts, this time the biggest reason for the fire in the domestic market is the increasing tension between America and Iran. Due to this huge tension going on in West Asia, the world’s most sensitive and important oil supply route ‘Strait of Hormuz’ has been badly affected.

For your information, let us tell you that crude oil is supplied to a large part of the world through this sea route. As soon as the supply chain was affected due to tension on this route, the prices of crude oil in the international market started rising rapidly like a rocket. Since India imports most of the crude oil required from outside, the direct impact of this movement in the global market is now clearly visible on the petrol pumps of our country.

Prices skyrocketed: Petrol crossed ₹115 in Hyderabad and ₹102 in Delhi

After this latest and huge increase, the price of petrol in the country’s capital Delhi has increased to the level of ₹ 102.12 per liter, while the new rate of diesel has now become ₹ 95.20 per liter. If we talk about the most expensive cities of the country, then Hyderabad is seen at the top of the list. In Hyderabad, people now have to pay ₹ 115.73 for one liter of petrol, whereas the rate of diesel there has crossed the figure of ₹ 103.82 per litre. More or less, the situation remains the same in other big metros of the country where oil prices are creating new records.

ONGC director told the real mathematics of rising prices

Sushma Rawat, Director (Exploration) of ONGC, the country’s largest oil and gas producing company, has spoken openly on the current situation. According to him, at present there is a lot of uncertainty and volatility in the international market regarding crude oil. Explaining all this mathematics, he said that whenever there is news of any peace agreement or talks at the global level, the prices of crude oil immediately come down. But as soon as news of tension or war between the two countries intensifies again, prices go up again.

Making another big revelation, Sushma Rawat said that the government tried its best for the last 76 days so that the burden does not fall on the general public and the prices remain stable. But during this period, oil companies were suffering huge losses of about ₹ 1000 crore every day. In view of the record losses being incurred by the companies, it had now become extremely important and compulsion to increase the prices.

3 big and scary warnings from experts amid rising oil prices

After this huge increase, experts in the international market and the domestic market have issued three very important and serious warnings to the general public and the government, which can be costly to ignore:

1. The current of inflation may increase even more in the coming days

Market analysts clearly say that if the ongoing dispute between America and Iran is not resolved soon, then the prices of petrol and diesel in the Indian market will increase further. According to experts, in the coming weeks, petrol prices in some major cities of the country may touch the historical level of ₹ 110 to ₹ 120 per liter.

2. From plate to ration, everything to eat and drink will be expensive

The direct impact of petrol and diesel becoming expensive is not limited to just driving your car or personal expenses. As the prices of diesel increase, the cost of transportation of goods in the country also increases. The direct result of this will be that in the coming days, green vegetables, milk, fruits, grocery items and even online delivery services will become very expensive. If this happens then it is certain that the common man’s pockets will be empty.

3. The monthly budget of the middle class will completely collapse.

The biggest hit of this oil crisis is going to be on the middle class of the country. This will have the deepest economic impact on working people who go to office every day on their bikes or cars, college going students and businessmen running small businesses. People’s monthly fuel expenditure (fuel budget) is suddenly increasing, due to which they will have to cut down on other important expenses. Its direct impact will also be seen on the demand for other everyday items in the market.

Slight relief in crude oil prices, but is it permanent?

Amidst all these bad news, a bit of relief news also emerged from the international market late on Sunday night. There was some decline in crude oil prices in the global market, after which Brent Crude fell by about 5% to $98.22 per barrel. However, even after this slight decline, Indian experts say that until this serious political tension in West Asia does not end completely, this small decline cannot be considered as a permanent relief. It will take time to get its benefits in the Indian markets.

How should the common man save himself from this huge shock of petrol and diesel?

In this era of continuously rising prices, if you also want to save your monthly budget from getting spoiled, then you can definitely include some of these easy and effective measures suggested by experts in your daily life:

• Put a break on unnecessary journeys: Unless absolutely necessary, avoid taking your personal vehicle out of the house. Make a habit of walking or using a bicycle for short distance errands.
• Adopt car pooling and public transport: Do car pooling with your friends or colleagues to go to office or work. Apart from this, make maximum use of public transport like metro, local trains or government buses, which will prove to be very light on your pocket.
• Timely servicing of the vehicle is important: Get your bike or car serviced from time to time from an authorized service center. A well maintained vehicle engine consumes less fuel and thus saves a lot of oil.
• Take special care of tire pressure: Always keep the air pressure (tire pressure) in the tires of your vehicle correct as per the standards of the companies. When there is less air in the tyres, there is more pressure on the engine, which reduces the mileage. Maintaining correct tire pressure will give you better mileage and reduce petrol costs.