Gasoline, Diesel Price: Oil because of people in telling Reuters that they expect at least a price increase ₹ 10 in price if they have to be destroyed.
The price of gasoline and diesel must increase by ₹ 15 per liter for retailers to penetrate even, industry experts told PTI Monday, because oil companies plan to reduce the losses that accumulate from setting stable interest rates in five states, including Uttar Pradesh. COS oil also wants to compensate for the increase in international prices that skyrocket as a result of the Russian invasion to Ukraine; It has touched 13 years as high as US $ 140 per barrel with Brent crude, at one point, with more than US $ 139 per barrel.
And, for important compounds, Rupees fell to the lowest level of 76.96 against the US dollar. The previous low was 76.90 in April 2020, when Covid’s pandemic began.
COS oil has admitted that they caused a big loss and the person told Reuters that they expected at least a price increase ₹ 10 if they would be destroyed. Last week a report by ICICI Securities said expected price increases ₹ 15.1 per liter.
India relies on overseas purchases to meet around 85 percent of their oil needs, making it one of the most vulnerable in Asia with price increases.
Indian crude oil baskets bought up to US $ 117.39 per barrel on March 3, the highest since 2012, according to the Ministry of Oil.
Twins – Increasing oil prices and weakening rupees – can harm financial that have struggled nations – which have been influenced by Covid and postpartum period – and increasing newborn recovery.
There may be some pauses later this year, with the demand for the country’s fuel it is expected to increase by 5.5 percent, but it is not clear whether COS oil will be happy to reduce prices by increasing sales volume.
Fuel consumption by 2022-23 is estimated to increase to 214.5 million tons from 203.2 million tons (expected) in the fiscal year ending March 2022.
The increase in fuel prices after the election was feared by many people, with members of the Parliament Rahul Gandhi among those who were most vocal on the topic.
Last week Gandhi said people would be advised to supply gasoline and diesel for their cars and two-wheeled cars because the MOD government would definitely increase prices after the vote ended.
Prices of gasoline, diesel and LPG (used for cooking) skyrocketed last year, produced an ordinary person government and opposition.
Prices are stable, expected, with close selection but can now increase again.
Conflict in Ukraine, which is now in the 13th day in a row, has affected the price of some important items in the region and throughout the world; In India, for example, people have been in a hurry to store cooking oil.
