After LPG, is it now the turn of petrol and diesel? Planning going on to increase the price! Know today’s latest fuel rate

Petrol & Diesel Price Today on May 5: Recently, the prices of commercial LPG cylinders in the country have increased by a huge amount of Rs 993. In such a situation, the question arises whether after the increase in the price of gas cylinder, now it is the turn of petrol and diesel?

Let us tell you that these days oil marketing companies (OMCs) are in talks with the central government to increase the prices of petrol and diesel because they are incurring losses on selling fuel retail. To compensate for this loss, government companies are planning to increase fuel rates.

How much can the price increase per liter?

MoneyControl report quoted a senior government official as saying, “OMCs are incurring losses on the sale of petrol, diesel and LPG and are in constant touch with the Petroleum Ministry and the Finance Ministry, with whom discussions are going on regarding the price increase.” Another government official was quoted as saying that the prices may increase by Rs 2-4 per liter.

Why may prices increase?

Due to increasing tension between Iran and America and the ongoing crisis in West Asia, the prices of Brent crude oil has crossed $ 126 per barrel. Because of this companies are incurring losses.

The government is trying to avoid this increase in prices so that inflation does not increase in the country. There has been no major increase in the prices of petrol and diesel for the last four years. At present, after the completion of assembly elections in four states, it is being estimated that the increase in fuel prices is just a matter of time.

Petrol-diesel rate today

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