Petrol Diesel Price: Fuel Rates cross the mark of Rs 100 in these cities; Check!
The retail price of petrol in Mumbai, Maharashtra was Rs 101.50 on Wednesday, while the price of diesel was Rs 93.60 per.
New Delhi: Petrol prices have crossed Rs 100 per liter in at least 6 states of the country. In fact, this has happened due to the increase in petrol prices by Rs 4.90 per liter since the beginning of May 2021.
Petrol Price Today:
Union Petroleum Minister Dharmendra Pradhan says that the domestic prices of petrol and diesel are increasing due to the jump in the international crude oil prices. Let us try to know what can be the reason for the skyrocketing of petrol and diesel prices.
Petrol above 100 in these cities:
The retail price of petrol in Mumbai, Maharashtra was Rs 101.50 on Wednesday, while the price of diesel was Rs 93.60 per. Since the beginning of the year 2021, the price of petrol in the country's financial capital has increased by Rs 11.60 and diesel by Rs 12.40 per liter. First of all, let's talk about the effect on the price of petrol and diesel in India due to the rise in the international prices of crude oil.
The recovery of the global economy from the covid-19 pandemic has led to a sharp increase in crude oil prices in the year 2021 due to the improvement in demand. During this period, Brent crude prices have jumped 37.1 percent to $ 71 per, from $51.8 at the beginning of the year.
The domestic price of petrol and diesel is calculated on the basis of 15 days average of international prices of both the fuels. However, in the financial year 2014, India was buying crude oil at an average rate of $105.5 per barrel. On this basis, the prices of petrol in India are slightly higher during this period as compared to that time. Let us tell you that in 2010, the government's control on petrol prices was removed.
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