The price of petrol and diesel is continuing rising in the country. In the national capital Delhi, the price of petrol went up by 35 paise per litre to Rs 81.63 per litre, while the increase in diesel price was also increased by 24 paise per liter.
Along with this, diesel now has become 73.54 rupees per litre in Delhi. Talking about India’s financial capital Mumbai, the price of petrol is 34 paise and diesel prices have increased by 25 paise.
The new price of petrol in Mumbai has gone up to Rs 89.01 per litre and diesel Rs 78.07 per litre. The biggest reason for the increase in prices of petrol and diesel is the continuous fall in rupee value and rising crude oil prices all over the world. Since India imports 80 percent of its total oil and is the third largest oil importer in the world, it is the third largest producer of oil. As the price of rupees is falling, the import is getting expensive.
In this case, the retail price of petrol and diesel (which you buy them) are increasing as per the rising prices of crude oil. Market participants believe that in the coming days, the prices of petrol and diesel in the Indian markets can go up further. Since January this year, the price of petrol has increased by about Rs 20 per liter.