Petrol Diesel Price Hike: From March 8, 2022, there is going to be a robbery on the pockets of the common people. Because after March 8, the prices of petrol and diesel are going to be on fire. Because from March 8, the prices of petrol and diesel may increase by up to Rs 25 per liter. That’s because Russia and Ukraine war ( Russia Ukraine War ) Due to this, the price of crude oil in the international market has reached the highest level of 14 years. The last round of voting under the assembly elections in five states is going to end on March 7. After which the government will give the green signal to the government oil companies to increase the price of petrol and diesel, after which the oil companies will start increasing the price.
how much will petrol diesel cost
It is estimated that from Tuesday 8 March, the prices of petrol and diesel may increase again on a daily basis. For every dollar increase in crude oil prices, state-owned oil companies increase the prices of petrol and diesel by 40 paise per liter. After touching the lowest level of $ 68 per barrel on December 1, 2021, crude oil has now come down to $ 139 per barrel. That is, crude oil has become more expensive in the last 97 days by more than $ 69 per barrel. Petrol diesel becomes costlier by Rs 2 per liter after the increase in crude oil prices by up to $5. If we also add the weakness in the dollar against the rupee, then according to this, the state-owned oil companies will have to increase the prices of petrol and diesel by at least Rs 25 per liter to compensate for their losses. It is clear that this increase in crude oil prices is going to bother Indians the most. Which is dependent on imports for consumption. India imports 80 per cent of its fuel consumption.
Crude oil likely to become more expensive
International crude oil prices have risen to $139 a barrel for the first time since 2008 on fears of disruption in oil supplies from Russia. JP Morgan has predicted that if Russia’s incoming supply continues for the whole year in 2022, then this year the price of crude oil can touch the price of $ 185 per barrel. In early November last year, when petrol and diesel prices were reined in, the average crude oil price stood at $81.5 per barrel.
Petrol diesel price in four metros
At present, petrol in Delhi is being paid Rs 95.41 per liter and for diesel Rs 86.67. Mumbai residents have to pay Rs 109.98 for petrol and Rs 94.14 per liter for diesel. In Chennai, it is getting Rs 101.40 per liter for petrol and Rs 91.43 for diesel. The people of Kolkata have to pay Rs 104.67 per liter for petrol and Rs 89.78 per liter for diesel. This is today’s price, just imagine, after the end of the election, the government oil companies started increasing the price of petrol and diesel to compensate for their losses, then what would be the price of inflation in the country.
Russia Ukraine War: Due to the war between Russia and Ukraine, the price of crude oil crosses $ 139 per barrel, the highest level since 2008
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