Petrol, diesel price increase pauses after 5 days

10

New Delhi, Nov 25 | Petrol and diesel prices remained unchanged on Wednesday after five straight days of increase in the wake of firming of international oil rates.

Accordingly, petrol price in Delhi stayed at Rs 81.59 a litre while diesel prices continued to stay at Rs 71.41 a litre.

In other metros and cities too the pump prices of the two petroleum products remained unchanged from Tuesday’s level.

Petrol and diesel prices have been rising since Friday after a nearly two-month-long hiatus in fuel price revision. In five days, petrol price has gone up by 53 paise and diesel rates have risen by 95 paise per litre.

Petrol prices had been static since September 22, and diesel rates hadn’t changed since October 2.

Though the retail pricing of petrol and diesel has been deregulated and oil marketing companies were following a daily price revision formula, the same was suspended for almost two months to prevent volatility in the international oil markets from impacting fuel prices regularly during the pandemic.

But with crude on the boil again on news of a successful coronavirus vaccine launch soon, the patience was lost by OMCs who finally resorted to price increase to cover for their under recovery on the sale of two petroleum products.

The benchmark Brent crude has crossed $48 a barrel on the Intercontinental Exchange (ICE). It has remained over $43 a barrel for most part of November.

The OMCs need almost 40 paise per litre increase in the retail price of petrol and diesel to cover for $1 increase in crude. Going by this yardstick, product prices would have to be increased by up to Rs 2 per litre to cover under recovery on its sale.

Source: IANS

Sponsors Posts

1BHK Flats in Jabalpur for sale at budget price ?

1BHK Flats in Jabalpur for sale at budget price ?

Approximate 200+ 1BHK apartments or flats in Jabalpur available for sale at budget price

As per available data with BhaskarProperty.com approximate 200+ 1BHK Residential Flats for Sale in Jabalpur at a very low price. This is the right time for small property buyer to grab new property in Jabalpur with multiple benefits.

At this time Builder and Developer in Jabalpur also target to the maximum sale before the end of year. Also banks are giving low rate loan for housing. The 1BHK Flats for sale at multiple prime residential location in Jabalpur are available.

1BHK apartment’s starting price in Jabalpur is 12.0 Lac*

Some of the Real Estate Developer in Jabalpur are offering 1BHK Flat at Just 12.0 Lac (Starting Price) with multiple benefits like lift, parking, 24×7 water, CCTV and many more.

You can find more details about these from bhaskarproperty.com a Jabalpur Real Estate Website.

Most preferred residential location in Jabalpur

The most preferred residential locations in Jabalpur are Civil Lines, Vijay Nagar, Kachnar City, Napier Town, Wright Town, Lekha Nagar, Sadar, Sneh Nagar, Hathital and many more.

BhaskarProperty.com is the best property portal for Jabalpur Real Estate market

The Bhaskar Property (bhaskarproperty.com) have property’s photos, video, walkthrough, location map and property browser with information. Also they provide the direct contact details of property owner and agent to whom a property buyer can directly contact.

Don’t forget to visit bhaskarproperty.com now.

LEAVE A REPLY

Please enter your comment!
Please enter your name here