Petrol price increased again in India

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New Delhi, 6/1 (AO bureau): Petrol prices can once again reach new heights. In the capital  Delhi itself, the price of petrol has reached Rs 83.97 per liter on Wednesday. After being stable for 29 consecutive days, the price of petrol has increased by 26 paise per liter on Wednesday, while diesel has also become expensive by 25 paise. The price of one liter of diesel in the national capital today is Rs 74.12. Indeed, the coronavirus epidemic has affected energy demand globally. Crude oil prices have increased in the international market due to the introduction of vaccination in many countries. Brent crude oil is trading at $ 53.86 per barrel and West Texas Intermediate (WTI) near $ 50.

When was the last time petrol and diesel prices reached record highs?
An increase of one dollar per barrel puts India’s crude oil import bill at an annual burden of Rs 10,700 crore. A livemint report quoted a government official as saying that oil companies have kept retail rates stable over the past few years. Now the prices have increased a lot. The highest price of petrol was last seen in Delhi on 4 October 2018 at Rs 84 per liter. Whereas, last year, the price of diesel had reached the highest level of Rs 81.94 per liter.

There is a steady increase in transportation and fuel rates in the country. This has also increased the pressure on the government to reduce tax rates.

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