Petrol Diesel Price: Signs of increase in the prices of petrol and diesel, the rise in crude oil prices. Fuel Price

Publish Date: 15 Sep, 2022 |
 

Crude oil prices have started climbing once again. Crude oil prices are seen in the upper range with Asian trade. Due to the increase in the demand for crude from the US and concerns about the supply of crude oil, there is a jump in the price of oil today. 

Demand of crude oil increases

The International Energy Agency (IEA) said yesterday that once again the use of oil instead of gas for heating is expected to increase, due to which the demand for crude oil can see a strong increase. On the basis of this, it can be said that during October 2022 to March 2023, there will be a demand of 7 lakh barrels per day, which is double than the previous year. On the other hand, due to weak growth in crude supply, its market prices will see a further increase.

According to a report by CNBC-TV18, there are three unions in the US that are in discussions for new contracts that could affect train shipments. Due to this, there may be a hindrance in the delivery of crude and crude related products.

Price of Petrol and diesel

Earlier, state-owned oil companies had fixed the retail price of fuel for a record 137 days with effect from November 4, 2021, but this was the election period in Uttar Pradesh. This period of rate stabilisation ended in March this year, 15 days after the price hiked by Rs 10. After this, the prices were again stabilised from 7 April. At present, the price of petrol in Delhi is Rs 96.72 per litre and diesel Rs 89.62 per litre. This is down from Rs 105.41 per litre of petrol and Rs 96.67 per litre of diesel on April 6 as the government cut excise duty.

 

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