By Admin 
- Petrol and diesel prices may increase before May 15.
- Oil companies incur losses due to increased crude oil prices.
- An increase of Rs 4-5 in petrol-diesel and Rs 40-50 in LPG is possible.
- Iran-America tension is affecting global supplies.
Petrol-Diesel Price: If you are also thinking of filling the tank of your car, then this news is very important for you. Amidst the ongoing tension in the Middle East and global turmoil after the Iran-America war, a big news is coming out regarding the prices of petrol and diesel in India. There is every possibility of a major change in the prices which have been stable for the last 4 years.
According to the report of Business Today, sources say that the prices of petrol and diesel may increase in the country before May 15. The biggest reason is the huge rise in the prices of crude oil in the international market. Crude oil, which was around $70 per barrel some time ago, has now reached $126 per barrel.
Sources say that due to expensive crude oil and Hormuz crisis, the supply is being adversely affected, due to which the country’s government oil companies i.e. OMCs (Indian Oil, BPCL, HPCL) are having to bear the brunt. These companies are incurring losses of approximately Rs 30 thousand crores every month. Currently, companies are bearing the burden of about Rs 24 per liter on petrol and about Rs 30 per liter on diesel, which is called ‘under-recovery’.
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How much will it affect your pocket?
According to reports, the prices of petrol and diesel may increase by Rs 4 to 5 per liter. Not only this, an increase of 40 to 50 rupees can also be seen in the prices of domestic LPG gas cylinders. Remember that there was no major change in the prices of petrol and diesel since 2022, but now it has become more difficult for the oil companies to bear this increasing financial burden.
The fuel crisis is deepening in many countries of the world. There has been a huge increase in the prices of petrol in America also. While rationing is taking place in Bangladesh, working days have been reduced in neighboring countries Pakistan and Sri Lanka. Comparatively, India has handled the situation much better so far.
Pressure is increasing due to Hormuz
The government cut excise duty and kept the supply smooth by importing crude oil from new countries like Russia, America and West Africa. Even our refineries are working at 100 percent more than their capacity. But at the global level, pressure is increasing due to disruption of important supply routes like Hormuz.
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