Petrol Diesel Prices: Today the election is over - trouble starts from tomorrow, now the prices of petrol and diesel will increase, know where the rate will reach?

Petrol Diesel Price Hike: Elections over, now preparing to increase the price of petrol and diesel by Rs 6, know why

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new Delhi. Voting for the assembly elections in five states including UP has ended on Monday. Now the companies, who have been waiting to increase the price of petrol and diesel for months, can increase by up to Rs 6 per liter in the next few days.

Sources related to the matter say that the government can gradually allow oil companies to increase the rate by Rs 5-6 per liter. In fact, on Monday, the price of crude oil in the global market had also crossed $ 139 per barrel, which is the highest level since July 2008. Due to the ever-increasing prices of crude oil, companies were also under pressure to increase the prices of petrol and diesel, as they were incurring a loss of Rs 12 per liter.

Also Read – Jerk! CNG rates increased as soon as elections were over, Delhi-NCR increased, prices increased in these cities too

Center-states together will give relief to consumers
Experts say that there will be no talks about reduction in excise duty or other taxes. If the crude prices remain at the current level for a long time, then the central and state governments together can give relief in tax exemption. Some part of the increased price will also have to be borne by the petroleum companies, so that the consumers do not have to bear the burden of expensive oil.

Wait till the election results come
Oil companies can wait for the increase in prices till the results of the assembly elections are out. It is believed that only after March 10, the process of daily change in petrol-diesel prices will start, which is currently stable since November 4. Then when the price of crude reached $ 83 per barrel, the central government reduced the excise duty on petrol by Rs 5 and on diesel by Rs 10 per liter. After this, the states also gave relief by deducting VAT.

Also read – Petrol Diesel Prices Today: Petrol-Diesel prices changed in many cities as soon as the elections are over, know the rate of your city

Two-way pressure due to falling rupee
Crude and rupee have the biggest impact on the retail price of petrol and diesel in the domestic market. The rupee has reached its record low in the forex market, making it more expensive for companies to buy crude. Due to the weakness of the rupee against the dollar, the pressure to increase the retail price is increasing. So soon an increase of Rs 5-6 per liter can be seen.

Tags: petrol diesel price, Petrol price hike

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