Diesel price increased by 70 paise in four days, petrol can also be expensive

Petrol Diesel Prices: The price of diesel was further increased by 25 paise per liter on Monday. Diesel prices have been increased for the third time since last week. In the coming days, the prices of both diesel and petrol may increase further as the price of crude oil has reached a three-year high in the international market. According to the price notification of the public sector petroleum companies, the price of diesel has increased to Rs 89.32 per liter in Delhi and Rs 96.94 per liter in Mumbai.

However, the price of petrol has not changed. It costs Rs 101.19 in Delhi and Rs 107.26 per liter in Mumbai. The price of diesel was increased for the second consecutive day and this is the third increase since September 24. At that time, the state-owned petroleum companies had resumed the process of increasing the prices after three weeks.

Overall, since then, diesel prices have increased by 70 paise per liter, while between July 18 and September 5, there was a total reduction of Rs 1.25 per litre. Before that, the last time diesel prices were increased on July 15. On the other hand, petroleum companies have just stopped the petrol price hike. Petrol prices were last hiked on July 17.

Industry sources say that along with diesel, the prices of petrol may also increase in the coming days. International crude oil prices are rising. Brent futures are trading above $78 per barrel since September 24. Crude oil prices are at a nearly three-year high. The reason for this is that energy companies have to extract more crude oil from their reserves due to the production being affected globally.

A source said, “Global demand for crude oil has been increasing steadily after the easing of epidemic curbs and vaccination intensification. As far as supplies are concerned, the OPEC+ alliance is in no hurry to lift production curbs. Due to this the supply situation in the market is not good.

Government-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd. (HPCL) resumed daily price revision on September 24, ending the moratorium on price hike from September 5.

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