Tuesday, Jan 31, 2023
English News
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
    • Rewind
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
  • Rewind
Home | Business | Petrol Diesel Prices Increase After A Days Pause

Petrol, diesel prices increase after a day’s pause

Petrol prices have increased by Rs 2.30 a litre in Delhi in May in the 10 increases so far.

By IANS
Published Date - 12:25 PM, Tue - 18 May 21
Petrol, diesel prices increase after a day’s pause
Petrol prices have increased by Rs 2.30 a litre in Delhi in May in the 10 increases so far.

New Delhi: Under the new found preference for revising fuel prices every alternate day, the Oil and marketing companies (OMCs) raised the pump prices of petrol and diesel yet again on Tuesday.

Accordingly, the price of petrol increased by 27 paise per litre to Rs 92.85 a litre in Delhi while diesel price increased a tad higher by 29 paise to Rs 83.51 a litre on Tuesday.

Across the country as well the petrol and diesel prices increased between 25-30 paise per litre on Tuesday but its actual retail prices varied depending on the level of local levies in respective states.

The OMCs are following the practice of changing petrol and fuel rates every alternate day rather than undertaking changes on a daily basis for past few days. Accordingly, the Tuesday’s price hike came after there was no change on Monday.

Also, on Sunday while petrol and diesel prices were raised by 24 and 27 paise per litre respectively, there was no price revision on Saturday. Similarly, while fuel prices were raised on Friday, it remained unchanged on the previous day.

“It seems oil companies are giving a sense of relief to consumers as fuel prices are not being raised on a daily basis. But still prices are not actually falling but being raised on every alternate day too this month,” said a oil sector expert not willing to be named.

He said that the practice of daily price revision, started after deregulation of petrol and diesel prices few years ago but had been done away with by OMCs for past several months giving clear indication that administrative price regime is still working for the sector.

Under daily price revision, OMCs revised petrol and diesel prices every morning benchmarking retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate. However, in a market where fuel prices need to be increased successively, alternate day price revision seems to be the flavour.

It is worth noting that with 10 price increase in May, the retail price of regular petrol has already reached over Rs 99 a litre in Mumbai. Petrol prices are already over Rs 100 per litre in several cities in Madhya Pradesh, Rajasthan and Maharashtra. Premium petrol has been hovering above that level for some time now.

Petrol prices have increased by Rs 2.30 a litre in Delhi in May in the 10 increases so far. Similarly, diesel prices have risen by Rs 2.78 per litre in capital this month.

IANS had written earlier that OMCs may begin increasing the retail price of petrol and diesel post state elections as they were incurring losses to the tune of Rs 2-3 per litre by holding the price line despite higher global crude and product prices.

With global crude prices at around $69 a barrel mark, OMCs may have to revise fuel prices upwards again if there is any further firming up.

  • Follow Us :
  • Tags
  • Diesel Prices
  • marketing companies
  • OMCs
  • Petrol

Related News

  • KTR asks Centre to scrap cess on fuel

    KTR asks Centre to scrap cess on fuel

  • Villagers had a field day as petrol leaked from oil tanker in Khammam

    Villagers had a field day as petrol leaked from oil tanker in Khammam

  • Maharashtra cuts petrol rate by Rs 5/litre, diesel Rs 3/litre

    Maharashtra cuts petrol rate by Rs 5/litre, diesel Rs 3/litre

  • Govt slaps export tax on petrol, diesel; windfall tax on domestic crude oil

    Govt slaps export tax on petrol, diesel; windfall tax on domestic crude oil

  • No shortage of petrol, diesel in Telangana: Gangula

    No shortage of petrol, diesel in Telangana: Gangula

  • India’s efforts to protect environment multi-dimensional: PM

    India’s efforts to protect environment multi-dimensional: PM

Latest News

  • Nizamabad: EMRI holds first aid training programme for police personnel

    2 mins ago
  • Create awareness among students on animal protection laws: Bhongir Collector

    13 mins ago
  • Horse Racing: Garnet shines in morning trials

    17 mins ago
  • Puran clinches chess title

    19 mins ago
  • Horse Racing: Moonlight Queen has the edge in Mysuru feature

    19 mins ago
  • Wall posters dubbing Bhongir MP as Covert Venkat Reddy surface in Nakrekal

    22 mins ago
  • A night of glitz, glamour and glory marked HELLO! Hall of Fame Awards – South 

    24 mins ago
  • WhatsApp reducing barriers with new translation feature

    26 mins ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam