Petrol and diesel costs within the nation rose once more sharply by 25 paise and 30 paise per litre respectively on Thursday as Oil Advertising Firms (OMCs) continued to cowl for his or her losses on holding again worth rise for the previous 18 days as a consequence of state elections.
That is third enhance in gasoline costs in as many days as petrol and diesel costs rose by 15 paise and 18 paise per litre respectively on Tuesday and by 19 paise and 21 paise per litre respectively on Wednesday after 18 days break.
With Thursday’s enhance, petrol is now being retailed at Rs 90.99 a litre and diesel Rs 81.42 a litre within the nationwide capital.
Throughout the nation as properly the petrol and diesel costs elevated on Thursday however its quantum different relying on the extent of native levies in respective states.
Petrol costs in some states have breached the Rs 100 per litre mark whereas premium petrol has been hovering above that degree for fairly a while now.
IANS had written earlier that OMCs might start rising the retail worth of petrol and diesel put up state elections as they have been incurring losses to the tune of Rs 2-Three per litre by holding the value line regardless of larger world crude and product costs. The oil firms had already elevated the ATF costs by 6.7 per cent efficient this month.
OMCs benchmark retail gasoline costs to a 15-day rolling common of worldwide refined merchandise’ costs and greenback trade charge. Within the final fortnight world oil costs have hovered in $66-67 a barrel vary larger than the degrees when petrol and diesel costs have been final revised. Crude costs have jumped over $69 a barrel now.
The worth of the 2 auto fuels had fallen by 16 paise and 14 paise per litre respectively on April 15 after a 15 day break when OMCs saved its costs static. Thereafter revision of gasoline costs have been halted.
The OMCs went on worth minimize for the primary time this yr on two consecutive days – March 24 and 25 after maintaining oil costs regular for 24 days. It once more decreased the value on March 30. Thereafter, gasoline costs remained unchanged for 15 days earlier than falling once more on April 15. In all petrol costs fell by 77 paise per litre whereas that of diesel by 74 paise per litre in 2021 thus far.
Earlier, petrol and diesel costs elevated 26 occasions in 2021 with the 2 auto fuels rising by Rs 7.46 and Rs 7.60 per litre respectively thus far this yr.
With world crude costs at over $69 a barrel mark, the OMCs might revise gasoline costs upwards once more if there may be any additional firming up.