Petrol-Diesel Price: Second consecutive blow to Delhiites, petrol and diesel become expensive again

The prices of petrol and diesel in Delhi have been increased by 80 paise again for the second consecutive day i.e. today. In this way, the price of petrol and diesel in Delhi today is Rs 97.01 per litre and Rs 88.27 per litre respectively.


Delhi: Inflation in Delhi is continuously breaking the back of the common man. Sometimes after the increase in the price of LPG cylinder and sometimes CNG, now the prices of petrol and diesel have also gained momentum. The prices of petrol and diesel in Delhi have been increased by 80 paise again for the second consecutive day i.e. today. In this way, the price of petrol and diesel in Delhi today is Rs 97.01 per litre and Rs 88.27 per litre respectively. It is important to mention here that on Tuesday also the prices of petrol and diesel were increased by 80 paise.


According to news agency PTI, the prices of petrol and diesel were increased by 80 paise per litre on Tuesday. On Tuesday, the price of petrol in Delhi was Rs 96.21 per litre from Rs 95.41 earlier, while the price of diesel was increased from Rs 86.67 per litre to Rs 87.47. Not only this, the price of domestic LPG has increased by Rs 50 per cylinder. With this, the price of a non-subsidised, 14.2 kg LPG cylinder in the national capital has been increased to Rs 949.50.


In this way, due to election activities, the ban on a revision of petrol, diesel rates for four and a half months ended. Petrol and diesel prices were stable since November 4. The rate of LPG was last revised on 6 October 2021. At the same time, the price of LPG increased by around Rs 100 per cylinder between July and October 2021.


Despite the slowdown caused by the pandemic and then the Russia-Ukraine conflict as raw material costs rose, both LPG and automotive fuel prices remained stable. Non-subsidised LPG is the one that consumers buy at subsidised or below market rates after exhausting their quota of 12 cylinders.


Since June 2017, the prices of petrol and diesel have been adjusted daily as per the international rate of the last 15 days. After Prime Minister Narendra Modi-led government cut excise duty on petrol by Rs 5 per litre and diesel by Rs 10 per litre, fuel rates have not increased from November 4, 2021. After this, most of the state governments also reduced the local sales tax or VAT. Earlier, the price of petrol had touched an all-time high of Rs 110.04 per litre and diesel at Rs 98.42 per litre.


These rates were when crude oil was 86.40 per barrel on 26 October 2021. On November 5, 2021, the international crude oil prices were $ 82.74 per barrel, after which they started declining and it became $ 68.87 per barrel in December. International oil prices have been rising after Russia's attack on Ukraine. Although Western countries have so far kept energy trade out of sanctions, fears of a complete ban on Russian oil and products could raise international oil prices again.