People have become financially weak due to the lockdown implemented throughout the country due to Corona virus. It is now being told that 4 to 5 rupees can be increased on petroleum products. From next month, government oil marketing companies are preparing to revise the price of petrol and diesel every day. According to the media reports, it is being said that the state-owned oil marketing companies had a meeting last week on retail fuel. After this meeting, a roadmap has been prepared after the lockdown. Since then, there has also been a discussion on revising petrol and diesel prices daily as before.

It is being told that this can be implemented with Lockdown 5.0. However, it is being told that companies will have to get permission from the government first. <! –

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                 Due to the lockdown, the traffic was completely closed due to which the oil companies have suffered heavy losses. It is expected that exemption can be given in the fifth phase, this is the reason why these companies are in favor of revising the oil price once again. For oil companies, the difference between the purchase price and the selling price of petrol and diesel has reached about 4 to 5 rupees per liter. In the meantime, if the price of crude oil remains constant in the global market, then these oil companies will have to increase the price of petrol and diesel by 40 to 50 paise per day for about two weeks to end this gap. .

A liter of petrol in the capital Delhi costs Rs 71.26 per liter and diesel costs Rs 69.39 per liter. Earlier, from March 16 to May 3, the price was Rs 69.59 per liter for petrol and Rs 62.28 per liter for diesel. On May 5, after the Delhi government increased VAT, oil prices have increased.

Source: https://hindi.news18.com/news/business/petrol-diesel-price-may-be-hiked-upto-rs-5-per-litre-daily-price-revision-may-start-know- in-detail-3135844.html


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Shane is an economics and mathematics double major with a keen eye for the financial world. His understanding of the current economic model of different countries is enlightening and he aims to bring that impressive knowledge and experience into his writing. He is currently exploring writing about different genres within the entertainment, business and cryptocurrency sphere and aims to bring diversity in his writing.

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