Petrol And Diesel Prices May Increase By Up To Rs 5; How It Will Affect On Other Sources?

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New Delhi, 28th September 2021: In the international market, crude oil has once again reached close to $80 per barrel. In October 2018, it had reached $ 78.24 per barrel.


Petrol and diesel prices may increase by up to Rs 5 in the coming days due to the increase in the price of crude oil. Fuel experts have given this estimate.


Anuj Gupta, Vice President of IIFL Securities (Currency and Energy Research), said that in the last one month, crude oil has increased from $ 69.70 per barrel to close to $80 per barrel. Crude oil has registered an increase of about 12 per cent in a month.


There is no hope of a reduction in the price of crude oil in the coming days. As the demand for crude oil is increasing day by day. This is expected to increase the price further. This is sure to have an impact on the Indian oil market. An increase of five rupees in the price of petrol and diesel in the Indian market can be seen in the coming days.


Director of Kedia Commodity, Ajay Kedia said that economic activities have opened up due to the steady decline in new cases of corona across the world and the increasing pace of vaccination. Due to this, the demand for oil is increasing rapidly. As a result, the price of crude oil is sky touching.


India’s oil imports reached a three-month peak in August. At the same time, in July it had reached a one-year low. This is a sign of demand exit in the Indian economy. Experts say that the demand may increase further in the coming days in view of the festive season.


Effect Of Crude Oil Price Rise:

1. Price of LPG will increase.
2. Increase in the price of petrol and diesel.
3. Essential chemicals will become expensive.
4. Air Fuel Will Be Expensive.
5. Freight will increase
6. Lubricants, paints will be expensive
7. Ship, factory cost will increase
8. Increase in road construction cost