By Admin 
- International oil prices rise, crude reaches $103.
- Petrol and diesel prices were kept stable in India.
- The government protected domestic consumers from inflation.
- Crude oil prices fluctuate due to Middle East tensions.
Petrol-Diesel Price Today: No major change has been seen in the prices of petrol and diesel in the country on Saturday i.e. 9th May. The government has kept prices stable to protect domestic users from the impact of the international energy crisis. On the other hand, due to disruption in the supply chain of crude oil and war-like situation across the world, fuel prices are increasing rapidly.
Rise in oil prices in the global market
Recently, after the clashes between the American and Iranian armies on Friday, there has been an increase in activity in the international bull market.
- The price of Brent crude increased by about 2.9%.
- The price increased to around $103 per barrel.
- Later a slight decline was also recorded in it.
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It has also affected efforts to end the conflict that has been going on for 10 weeks.
Petrol Prices in India (₹/Litre)
- New Delhi -94.77
- Kolkata -105.41
- Mumbai- 103.54
- Chennai – 100.84
- Gurgaon -95.51
- Noida-95.48
- Bengaluru -102.92
- Bhubaneswar -101.16
- Chandigarh -94.30
- Hyderabad- 107.50
- Jaipur- 104.91
- Lucknow- 94.69
- Patna – 105.23
- Thiruvananthapuram -107.48
Know what is the price of diesel?(₹/Litre)
- New Delhi – 87.67
- Kolkata – 92.02
- Mumbai – 90.03
- Chennai – 92.39
- Gurgaon- 87.94
- Noida-88.01
- Bengaluru- 90.99
- Bhubaneswar -92.74
- Chandigarh -82.45
- Hyderabad -95.70
- Jaipur -90.38
- Lucknow -87.81
- Patna – 91.49
- Thiruvananthapuram -96.48
Why is the effect of crude oil prices increasing?
After the beginning of tension in the Middle East, sharp fluctuations have been seen in the prices of crude oil.
- Price before the war: about $73 per barrel
- Rise on April 30: $126 per barrel (4-year high)
- Fall on May 6: $97.77 per barrel
Effect on inflation WPI vs CPI
According to experts, the impact of crude oil prices will be greater.
most important things
The impact on WPI (Wholesale Price Index) will be greater.
The impact on CPI (Consumer Price Index) will be less.
Why would it happen?
- The government has kept the prices of petrol, diesel and domestic LPG stable.
- Therefore, there is no immediate visible impact on common users.
government strategy
- At present the prices of petrol and diesel have been kept stable.
- No major changes were made even on domestic LPG.
- Only the prices of commercial LPG cylinders have increased.