Petrol, diesel prices hiked for the first time in two months
- Petrol and diesel prices have remained same since end of September.
- Price hike comes as part of daily price revision after spike in crude oil prices globally.
Retail prices of petrol and diesel have been hiked by the oil marketing companies today for the first time in two months. The price of petrol has increased by 17 paise per litre in Delhi. It will now cost ₹81.23 against ₹81.06 a litre price. Retail price of diesel has been increased by 22 paise per litre to ₹70.68 a litre.
The oil-producing organizations had chosen to hold costs of petroleum and diesel since the end of September this year in spite of expanding costs in the worldwide market. While petroleum cost hasn’t changed since September 22, diesel rates have been static from October 2.
The expansion in petroleum and diesel costs was normal as the worldwide oil market had given indications of firming up after sure news on effective presentation of a Covid antibody soon. In addition, the interest in oil and falling stock levels in major devouring business sectors has additionally solidified rough costs.
Oil costs were minimal changed on Friday, on target for a third successive week by week rise. The benchmark Brent rough cost is floating over $44 a barrel for quite a while the US WTI unrefined is likewise near $42 a barrel. The two have stayed firm since the start of the month in the wake of staying delicate in many pieces of October at near $40 a barrel or less.
The bin of unrefined petroleum that India purchases have found the middle value of around USD 40 for each barrel in October as against USD 41.35 in the earlier month.
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