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 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?

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new Delhi. The last phase of the assembly elections in UP is ending on Monday and with this the reins on oil companies will also end. There is every possibility that oil companies will start changing petrol-diesel prices from Tuesday morning itself.

In fact, the price of crude oil in the global market has become the most expensive since 2008. On Monday morning, Brent crude also crossed the price of $ 139 per barrel, which is a jump of more than 10 percent in a single day. Although, it came down a bit later but still remains around $130 per barrel. Now the pressure on oil companies to increase prices has reached its peak.

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How the pressure on companies increased so much
The government has made the change in oil prices completely dependent on the market after June 15, 2017. This means that relative to the price of crude in the global market, companies will decide the rates of petrol and diesel in the domestic market as well. But, the reality is that in view of the elections in 5 states, under the pressure of the government, the companies did not increase the prices of petrol and diesel, which have been stable for four months. During this period, the prices of crude have almost doubled, due to which the pressure on the petroleum companies to increase the prices has increased a lot.

Oil rate will gallop from tomorrow?
Energy market and commodity expert Ajay Kedia says that the margins of Indian petroleum companies are continuously decreasing. She has to pay double the price at which she used to buy crude four months ago. It is estimated that from day one, companies can increase by more than 50 paise. If this trend continues for a few days, then the retail price of petrol and diesel will increase by Rs 5 per liter.

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The government will also give a blow … can withdraw the duty cut
Some experts are also speculating that companies are also pressurizing the government to compensate their margins. They demand that the time has come to withdraw the reduction in excise duty made in the past. Since, the ‘moral responsibility’ of elections on the government is now ending, so it also has every chance to withdraw the cut in excise duty.

Now… there may be a shock of Rs 10 per liter
If the government also announces to end excise duty cuts, then petrol prices will increase by Rs 5 in a lump sum. At the same time, companies also gradually increase their margin by Rs 5 by increasing the prices, then the total increase will reach Rs 10 per liter. However, the government reduced excise duty on diesel by Rs 10, which is not likely to be completely withdrawn. If there is a deduction of Rs 5 on this too, then the prices will increase by Rs 10 per liter here too.

Also read – Petrol Diesel Prices Today: Petrol-Diesel is expensive in Lucknow and cheaper in Noida, know what is the rate in your city

If this happens, then get ready for all-round hitting of inflation.
Due to the cost of petrol and diesel, it will not only become expensive for you to drive, but due to this, all-round inflation will start hitting. Due to the cost of diesel, freight will be affected and other food items including vegetables and fruits will become expensive. Retail inflation has already reached above 6 per cent, which will make us cry further from February and again in March. The inflation of edible oil will also increase further, most of which is imported from outside.

Tags:, Petrol price hike

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