Petrol Diesel Price Hike: Petrol Diesel becomes expensive again on Monday, See the current rates

Publish Date: 10 May, 2021 |
 

Petrol Diesel Price hike for 5th time: Petrol and diesel prices in the country are hiking again on Monday, May 10, 2021. On Monday, petrol went to Rs 91.53 per litre in the Delhi market and diesel reached Rs 82.06 per litre. There was a stability in the prices the last two days, but today petrol has become costlier by 26 paise and diesel by 33 paise. On Friday, petrol prices were increased by 35 to 44 paise and diesel prices by 45 to 51 paise, in the last five days petrol has become costlier by Rs 1.19, while diesel has been cost by Rs 1.33. are done. The prices had stabilized since the announcement of the assembly elections. Prices were also reduced 4 times in April, but till the results of the elections, the prices of petrol and diesel have increased five times so far.

Relaxing prices during the weekend

On Friday, the prices of both these fuels were recorded by 28 paise and 31 paise per litre. However, the oil marketing companies (OMCs) had stopped the price hike for the last 18 days due to the elections. After that, oil prices rose continuously for 4 days. Petrol and diesel prices were increased by 15 paise and 18 paise per litre respectively on Tuesday, 19 paise and 21 paise per litre respectively on Wednesday and 25 and 30 paise respectively on Thursday.

The rates increased after the elections

It was already reported that OMCs could start increasing the retail price after the elections as they were incurring losses of Rs 2 to 3 per litre despite high global crude and product prices. Oil companies had increased ATF prices by 6.7 per cent earlier this month.


A Barrel of oil costs 67 $

Global oil prices have hiked from the level of 66 to 67 dollars per barrel in and when the prices of petrol and diesel were last revised. Crude prices have now risen to around $ 69 per barrel.

Earlier, the prices of petrol and diesel had increased in 2021, so far this year both fuel has increased by Rs 7.46 and Rs 7.60 per litre. With global crude oil prices of around $ 69 a barrel, OMC could see fuel prices improve again if there is any further strengthening.



 

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