By Admin 
Petrol-Diesel Price: Amidst the war in Iran, the prices of petrol and diesel in the country have remained stable for a long time. Due to the huge rise in crude oil prices globally, many countries have already passed the burden of increased costs on consumers.
At the same time, there has been no change in the retail prices of petrol and diesel in India for a long time. Due to this, fuel retailers are suffering huge losses. They are incurring a loss of Rs 20 per liter on petrol and Rs 100 on diesel.
Refineries running in loss
On one hand, the government is protecting customers from fluctuations by keeping the prices of petrol and diesel stable amid global uncertainty, due to which fuel retailers are facing losses.
According to the report of Hindustan Times, experts, on the condition of anonymity, said that if the crisis in West Asia continues for a long time and the oil prices in the international market remain at 70-80 dollars per barrel, then it may be difficult for the oil refining companies to bear such fluctuations.
Is the price of petrol and diesel going to increase?
People associated with the industry hope that if the same trend of fluctuations in crude oil prices continues in the international market, then it is possible that oil companies may pass on some part of the revenue loss on petrol and diesel to the customers sometime after the assembly elections.
Before the start of the war in Iran, the price of benchmark Brent crude was $ 72.87 per barrel, which increased by almost 40 percent on Wednesday to $ 101.91 per barrel and on Thursday the prices crossed $ 103 per barrel.
What is the government saying?
Recently, Kotak Institutional Equities said in one of its sector notes that amid rising crude prices, it is becoming difficult for retail companies to maintain the current cap on fuel prices for longer. In such a situation, it is possible that after the end of the assembly elections till April 29, there may be a huge increase in the prices of domestic petrol and diesel by Rs 25-28 per liter.
However, the government has clearly refused this. Sujata Sharma, Joint Secretary, Petroleum Ministry, has clearly stated that despite the rise in international prices, the government has no proposal to increase the retail prices by Rs 25-28. The government has advised the people of the country not to pay attention to these rumors going on on social media, which are being spread with the aim of creating panic.
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Petrol-Diesel Price: Are petrol-diesel prices really going to increase by Rs 25-28? Know how much is the latest price in your city today