People should be ready to empty their pockets! Petrol-diesel prices increased for the second time in 5 days, know the new figure

Fuel Price Hike: If there is any news that shakes the entire budget of a middle class family as soon as they wake up these days, it is the fuel price. If you thought last Friday's price hike was the last, you are wrong. In just 5 days, the government has again hiked the prices of petrol and diesel, giving another big shock to the public. The ongoing tensions in West Asia and the global market turmoil are now beginning to have a direct impact on the pocketbook of the common Indian.

Petrol-diesel prices hiked for second time in 5 days

Oil companies have hiked petrol and diesel by around 90 paisa. Even last Friday, there was a drastic increase of 3 rupees per liter across the country. After this second consecutive increase, prices in major metro cities of the country have reached new highs. The biggest blow has been felt in Kolkata, where the price of petrol has gone up by 96 paise. In Delhi too, petrol has reached Rs 98.64 and diesel Rs 91.58 per litre.

On Friday, along with petrol-diesel, CNG prices in Delhi were also increased by Rs 2 per kg, after which the price of CNG in different cities has reached around Rs 87. Transport and trading experts believe that the direct impact of this increase will soon be seen on essential commodities like vegetables, milk and groceries.

A spike in crude oil prices

Due to the ongoing conflict in West Asia, the price of Brent crude has crossed $111 per barrel in the international market, while WTI crude has also crossed $107. India imports about 85% of its crude oil requirement, so even a small movement in the global market can cause a major earthquake in India.

Can't buy oil from Russia: America

For the past two years, India had been protecting its domestic market from inflation by getting cheap crude oil from Russia despite international sanctions. But a temporary embargo on Russian offshore oil granted by Donald Trump in the US expired on Saturday. As this supply shield weakens, pressure has increased on Indian oil companies, as they now have to buy oil at expensive global rates. This is the reason why after months of keeping the prices stable, now the companies are increasing the prices.

FAQ

Question 1: In just 5 days, how much have oil companies increased petrol-diesel?

Answer: Oil companies have recently increased the prices of petrol and diesel by around 90 paise.

Question 2: How much was the price hike last Friday before this new hike?

Answer: Petrol and diesel prices were hiked by Rs 3 per liter across the country last Friday.

Question 3: Which city has been hit the hardest by recent price hikes?

Answer: Kolkata has been hit the hardest in this second wave of price hike, where petrol has gone up by 96 paise.

Question 4: What are the latest petrol and diesel prices in Delhi after the new price hike?

Answer: Petrol has now reached Rs 98.64 per liter and diesel Rs 91.58 per liter in Delhi.

Question 5: How much has the price of CNG increased recently and what is the new price?

Answer: CNG price in Delhi was hiked by Rs 2 per kg, due to which the price of CNG in various cities has now reached around Rs 87.

Question 6: What will be the effect of fuel price hike on the general public?

Ans: Prices of daily necessities like vegetables, milk and groceries may soon increase due to costlier transport.

Question 7: What is the current price of Brent crude and WTI crude in the international market?

Answer: Brent crude price has crossed $111 per barrel in the global market and WTI crude has also crossed $107.

Question 8: What percentage of crude oil does India import from abroad?

Answer: India imports about 85% of its crude oil from foreign countries.

Question 9: What is the main reason behind this sudden exorbitant price hike in the Indian market?

Answer: As the temporary embargo on Russian offshore oil granted by Donald Trump in the US expired on Saturday, India has stopped getting cheap oil and has to buy expensive oil from the global market.

Question 10: India used to control inflation by buying cheap crude oil from which country?

Answer: India has been procuring cheap crude oil from Russia despite international sanctions for the past two years to protect its domestic market from inflation.

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