Not Getting Relief From Inflation Even in Corona Crisis, Petrol and Diesel Prices Increased Again for Fourth Consecutive Day

Not Getting Relief From Inflation Even in Corona Crisis, Petrol and Diesel Prices Increased Again for Fourth Consecutive Day

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@Raghav

NEW DELHI. Public sector oil marketing companies on Wednesday increased the price of petrol by 40 paise per liter and diesel by 45 paise per liter. Petrol-diesel has become costlier for the fourth consecutive day after keeping prices suspended for 82 days. According to the notification of companies, the price of petrol in Delhi has increased by Rs 73.00 to Rs 73.40 per liter. At the same time, the price of diesel has increased from Rs 71.17 to Rs 71.62 per liter. Earlier on Tuesday, petrol and diesel prices were increased by 54 paise and 58 paise per liter respectively.

Petrol has been costlier by Rs 2.24 per ltr and diesel by Rs 2.23 per ltr in the last four days. Oil companies on Sunday began a reshuffle in line with costs after postponing the review of prices for 82 days. Although oil companies were regularly reviewing ATF and LPG prices, there was no change in petrol and diesel prices from 16 March.

At present, the total excise duty on petrol is Rs 32.98 per liter and on diesel Rs 31.83 per liter. The oil companies, however, did not pass on the increase in excise duty to the customers but were accommodated with the fall in crude oil prices in the international market. The price of crude oil reached the lowest level of a decade in April due to the Coronavirus epidemic. India imports 85 percent of its oil requirement. Officials said that the market has started showing some degree of stability, daily price review has been started.

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