New Delhi: After a steady rise in global crude oil prices, the impact has now reached consumers. Oil marketing companies have increased the prices of petrol and diesel by Rs 3 per litre each, effective Tuesday night. In another blow to commuters in Delhi-NCR, Indraprastha Gas Limited (IGL) has also raised CNG prices by Rs 2 per kg.
What are the new rates in metro cities?
As soon as the new prices are implemented, petrol in Delhi has increased from Rs 94.77 to Rs 97.77 per litre. Diesel also increased from Rs 87.67 to Rs 90.67 per litre. In Mumbai, petrol will now be available at Rs 106.68 and diesel at Rs 93.14 per litre. In Kolkata, the price of petrol has been fixed at Rs 108.74 and diesel at Rs 95.13 per litre. Whereas in Chennai, petrol will be sold at Rs 103.77 and diesel at Rs 95.35 per litre.
Does CNG also become costlier?
IGL has increased the rate of CNG in Delhi to Rs 79.09 per kg. Now you will have to pay Rs 87.70 for one kg CNG in Noida and Ghaziabad. The new price in Gurugram is Rs 84.12 per kg. Due to the increase in the price of CNG, the cost of auto, cab, and delivery bike drivers will also increase.
What clarification did the government give on inflation?
On the rising prices of fuel, Parliamentary Affairs Minister Kiren Rijiju said that due to the ongoing conflict in West Asia, oil has become expensive across the world. In many countries, the prices of petrol and diesel have increased by 20 to 100 percent. The increase in India has been limited. Riju said that when Brent crude had crossed 100 dollars per barrel, and there was huge turmoil in the market, even then the government oil companies did not increase the prices after incurring losses for several weeks. The only objective was to reduce the burden of inflation on the common people.
What can happen next?
Oil market experts believe that the tension in West Asia does not seem to be ending soon. If crude oil prices remain high like this, then there may be pressure on fuel prices again in the coming days. Both the government and oil companies are monitoring the international market daily. Further prices will be decided according to the price of crude oil, the position of the rupee against the dollar, and demand and supply. At present, petrol, diesel and CNG being expensive, everything from transport to everyday things is sure to be affected.
