Oil and diesel prices proceed to take off and were raised for the 15th sequential day on Monday, even as worldwide raw petroleum prices retreated from record abnormal states. Strikingly, as indicated by the most recent prices, one liter of petroleum retailed at Rs 78.27 versus Rs 78.12 in Delhi yesterday, a 15 paise rise. In Mumbai, the prices ascended past the Rs 86 check to Rs 86.08. In Kolkata oil retailed at Rs 80.76, while at Rs Chennai 81.11. In the meantime, the price of diesel per liter has likewise been increased and the amended prices in Delhi are – Rs 69.17 and Mumbai Rs 73.64 for every liter.
Petrol Prices Raised By 15th Day Consequently – Touches Rs 78.27 In Delhi
Remarkably, the hike in prices come even as the worldwide prices kept on declining on Monday. Oil prices fell on Monday, expanding a precarious decrease in the past session, as the market peered toward an expansion in yield from the world’s three best-unrefined makers, Russia, the United States and Saudi Arabia, Reuters revealed. Brent rough fates were at $75.34 per barrel at 0124 GMT, down $1.10, or 1.4 percent, from their last close. U.S. West Texas Intermediate (WTI) rough fates were at $66.31 a barrel, down $1.57, or 2.3 percent, said the organization. Notably, with this most recent decrease, Brent and WTI have fallen by 6.4 percent and almost 9 percent separately from tops achieved before in May. In China, Shanghai unrefined petroleum fates tumbled by 4.5 percent to 459 yuan ($71.83) per barrel.
Then the government back home has said that they are investigating different answers for checking the rising prices. Association Petroleum and Natural Gas Minister Dharmendra Pradhan prior guaranteed people in general that the government will soon take out an answer to handle the circumstance. As per the priest, less generation of oil in the Organization of the Petroleum Exporting Countries (OPEC) and hike in unrefined petroleum price in the worldwide market are a portion of the variables influencing the fuel price.
Meanwhile, Road Transport and Highways Minister Nitin Gadkari has advocated bringing fuel under the GST to curb the price hike. “Petrol and diesel should have been brought under the Goods and Services Tax. I asked officials during a presentation if we bring fuel prices under GST will it benefit the states or not. They said ‘yes’, they will benefit,” Gadkari said at a recent conclave.