By Admin 
Petrol-Diesel Price: People across the country are already very worried about the rising prices of petrol and diesel. Meanwhile, another big report has further increased the concern of the people. In fact, the country’s largest brokerage firm Kotak Institutional Equities has said that in the current situation, there may be a need to increase the prices of petrol and diesel by Rs 13 to 17 per liter. The company believes that the prices that have been increased now are not enough to compensate for the losses of the oil companies.
Why did such a huge demand arise?
According to media reports, the price of crude oil is continuously increasing in the international market. Crude oil has become expensive due to the ongoing tension in the Middle East and concerns about supply. India buys most of the oil it needs from abroad, hence it is having a huge impact on the country. Kotak says that government oil companies are currently facing huge losses. Oil companies are incurring a loss of around Rs 25,000 crore every month. There is a loss of about Rs 14 per liter on petrol and about Rs 11 per liter on diesel, which means companies are suffering more loss than what they are not selling the oil for.
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Prices have increased twice
In the last few days, the price of petrol and diesel has increased twice. Earlier the price had increased by Rs 3 per liter but now the price has increased by 90 paise per liter. Despite this, Kotak says that this increase is still not enough. This is the reason why the company has said that if crude oil prices remain high like this, then there could be a bigger shock in the future.
What will be the impact on the common man?
Whenever petrol and diesel become expensive, it directly impacts the pockets of the common man. Not only driving becomes expensive, but due to increase in transport expenses, the prices of food and daily essentials also increase and then the entire budget gets spoiled. Experts believe that this increases inflation. Milk, fruits, vegetables, ration and even online delivery become expensive. Let us assume that if oil prices remain high in the international market, the pressure may increase. At present, everyone’s eyes are on the price of crude oil. If tension reduces and oil becomes cheaper, the general public will definitely get relief. But if the situation worsens then petrol and diesel may become more expensive in the future.
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