After 2-day lull,petroleumprices go up

KT NEWS SERVICE. Dated: 2/25/2021 12:04:36 PM

NEW DELHI, Feb 23: Petrol and diesel prices rose again on Tuesday after two days at the domestic level due to the rise in international crude oil prices.
Today in the capital Delhi, petrol went up by 25 paise to Rs 90.83 per liter and diesel by 35 paise to Rs 81.32 per liter.
Petrol prices rose by 31-35 paise while diesel prices rose by 33-38 across the major cities in the country. It is worth noting that amid pressure to check the fuel price rise, state-run oil marketing companies (OMCs) decided to keep petrol and diesel prices static on Monday for the second consecutive day.
In Delhi, petrol prices peaked to Rs 90.93 (35 paise more) a litre as against Rs 90.58 on Monday while diesel price soared to Rs 81.32 per litre as compared to Rs 80.97 a litre on Monday, as per data from Indian Oil Corporation (IOL) website. So far this month, the pump prices of petrol have gone up by about Rs 4.63 a litre while the price of diesel rose by Rs 4.84 paise per litre in the national capital.
Citizens in Mumbai have to shell out Rs 97.34 for a litre of petrol after a 34 paise increase over Tuesday’s rate. A litre of diesel costs Rs 88.44, 38 paise higher than yesterday’s price of Rs 88.06 a litre. In Chennai, the retail price of petrol was hiked by 31 paise to Rs 92.90 a litre, from Rs 92.59 recorded on Tuesday. Diesel costs Rs 86.31 a litre, 33 paise more than Tuesday’s price.
However, in Kolkata, petrol is available at Rs 91.12 a litre, down 66 paise compared with yesterday’s price of Rs 91.78 a litre, and a litre of diesel will cost Rs 84.20, 36 paise less than yesterday’s rate. On Sunday, poll-bound West Bengal reduced VAT (value-added tax) by Re 1 on petrol and diesel.
On Sunday, Oil minister Dharmendra Pradhan said there were two main reasons behind the fuel price hike. The international market has cut fuel production and manufacturing countries were producing less fuel to gain more profit. This is making the consumer countries suffer. India had urged the OPEC (Organisation of the Petroleum Exporting Countries) and OPEC plus countries to not go for an output cut as that is impacting the fuel price in India.



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