close
Business

Oil, Diesel Prices Hiked For Fifth Day, Set To Go Up Further: 10 Points

Oil, Diesel Prices Hiked For Fifth Day, Set To Go Up Further: 10 Points

Oil and diesel costs are presently reconsidered every day. The new rates are affected at fuel stations at 6 am each day.

Petrol and diesel prices in the country are determined broadly by global crude oil and rupee-dollar rates
Petrol and diesel prices in the country are determined broadly by global crude oil and rupee-dollar rates

Oil and diesel costs were expanded by 28-31 paise per liter crosswise over Delhi, Kolkata, Mumbai and Chennai on Friday. Petroleum and diesel costs are as of now modified regularly. The new rates are passed on to fuel stations at 6 am each day. Petroleum costs were climbed by 29 paise per liter in Delhi and Mumbai, 28 paise per liter in Kolkata and 30 paise per liter in Mumbai, information from Indian Oil Corporation appeared. Diesel costs were raised by 29 paise per liter in Delhi, 30 paise per liter in Kolkata and Mumbai, and 31 paise per liter in Chennai.

Here are 10 things to know:


  1. Oil costs have been brought up in the scope of Rs. 0.97-1.03 for each liter crosswise over Delhi, Kolkata, Mumbai and Chennai in five straight days. Diesel costs have been raised by Rs. 1-1.24 for every liter. Oil and diesel costs have been climbed for five straight days.
  2. Preceding the five sequential climbs, oil and diesel costs were not raised for around three weeks previously Karnataka races. Along these lines, oil advertising organizations (OMCs) now need to raise oil costs by Rs. 4.6 for every liter, or 6.2 for each penny, and diesel rates by Rs. 3.8 for every liter, or 5.8 for each penny, as indicated by business Kotak Institutional Equities.
  3. With Friday’s expansion, diesel cost in Delhi was at a new untouched high while oil cost in Delhi was around 0.6 for every penny far from an unsurpassed high of Rs. 76.06 for each liter, recorded in September 2013.
    Petrol price (in Rs per litre) Diesel price (in Rs per litre)
    18-May 13-May 31-Mar 31-Dec 18-May 13-May 31-Mar 31-Dec
    Delhi 75.61 74.63 73.55 69.97 67.08 65.93 64.4 59.64
    Kolkata 78.29 77.32 76.26 72.72 69.63 68.63 67.09 62.3
    Mumbai 83.45 82.48 81.41 77.87 71.42 70.2 68.58 63.27
    Chennai 78.46 77.43 76.29 72.53 70.8 69.56 67.93 62.83
    (Source: iocl.com)
  4. With impact from 6 am on Friday, May 18, oil retailed at Rs. 75.61 for each liter in Delhi, Rs. 78.29 for each liter in Kolkata, Rs. 83.45 for every liter in Mumbai and Rs. 78.46 for every liter in Chennai, as indicated by Indian Oil Corporation. Diesel costs were at Rs. 67.08 for each liter in Delhi, Rs. 69.63 for every liter in Kolkata, Rs. 71.42 for every liter in Mumbai and Rs. 70.8 for every liter in Chennai.
  5. With universal unrefined petroleum costs still close to 2014 highs and the rupee down more than 6 for each penny against US dollar so far this year, household oil and diesel costs may keep on rising for the time being, say specialists.
  6. Unrefined petroleum costs moved above $80 per barrel on Thursday out of the blue since November 2014, preceding withdrawing on a more grounded dollar and climbing US yield to end unaltered. Worldwide inventories of unrefined and fuel have dropped forcefully lately attributable to vigorous request and OPEC or Organization of the Petroleum Exporting Countries-drove creation cuts.
  7. “The present climb has come in the wake of US endorses that are relied upon as far as possible the fares from Iran, one of the greatest makers in the Middle East… For the Indian shopper here and now torment at the pump will remain… we don’t expect an extremely soak climb in the costs in the medium term, the costs in the here and now would stay unpredictable with a positive inclination,” said Rahul Agarwal, executive, Wealth Discovery/EZ Wealth. (Read more)
  8. So far this year, oil costs have been expanded by Rs. 5.64 for each liter in Delhi, Rs. 5.57 for each liter in Kolkata, Rs. 5.58 for every liter in Mumbai and Rs. 5.93 for each liter in Chennai, as per information from Indian Oil, the nation’s biggest fuel retailer. Diesel costs have been raised by Rs. 7.44 for each liter, Rs. 7.33 for every liter, Rs. 8.15 for every liter and Rs. 7.97 for each liter individually. (Likewise read: Excise Duty Cut Rules Out | Government for bringing petroleum under GST)
  9. The rupee has recuperated for two straight days against the US dollar. On Thursday, it shut down at 67.70 against the greenback. Regardless of the pullback, a few specialists trust that the likelihood of the rupee heading towards the 70 detriment for the US dollar is expanding.
  10. As of now, oil and diesel rates in the nation are resolved comprehensively by worldwide raw petroleum and rupee-dollar forex rate. That is a piece of a day by day arrangement of fuel value corrections received in June a year ago.

(This Story Originating Form NDTV)

Sanjay Bhagat

The author Sanjay Bhagat

Sanjay Bhagat is a news author in various news category and has worked on local newspapers.

Leave a Response