Petrol price hiked by Rs 4 per liter, what is the reason?

Petrol price hiked by Rs 4 per liter, what is the reason?

New Delhi: There is no relief in petrol and diesel prices. There was no slip in petrol and diesel prices during the Karnataka elections. The price was kept constant for about 19 days. But now prices are rising rapidly. Petrol price has risen by almost a rupee since Monday. On Friday, the price of petrol has gone up by 29 paise to 5-year high. Now petrol in Delhi costs Rs 76.61 and diesel is Rs.67.08. The price of the Karnataka election was kept steady. Meanwhile, crude oil prices have risen by $ 5. Petrol prices have to be increased by around 6.2 per cent or 4 rupees per liter. There has been a 98 paise hike in companies and the remaining increase can also come quickly.

Crude oil at international level has become the most expensive in four years. For the first time since November 2014, Brent crude has crossed $ 80 in the international market. With it crude oil has reached the highest level in the last 4 years. There are several reasons for the increase in the price of rawcrud. It includes the cuts in production by Opaque and Russia, the reasons for the threat of supply due to restrictions from the United States on Iran. Iran is the largest producer of crude oil. Apart from this, the reduction in crude supply from Venezuela is also one of the reasons. According to the estimates from Kotak Institutional Equities, petrol can reach Mumbai at Rs 87 per month. Currently has crossed the 83 figure mark.

According to the estimates from Kotak Institutional Equities, petrol can reach Mumbai at Rs 87. Currently, the number has crossed the 83 mark. In the next few months, crude could cross $ 85 to $ 86. Research director Anjagupta, Deputy Vice President, Commodities and Currency, Angel Broking also believes that crude oil can go up to at least $ 85 a barrel.

Experts believe that there is no possibility of further boom in it. Kia Commodity Director Ajay Kedia says OPEC and Russia have reduced oil production. Iran has a fear of declining supply in the market after banning Iran. So demand and supply ratios are worsening. In the next few months, crude can cross $ 85 to $ 86. Research analyst Anjagupta, Deputy Vice President, Commodities and Currency of Angel Broking also believes that crude oil can go up to at least $ 85 a barrel. Ajay Kedia says that crude can be at least 7-8% more expensive than the current level. If worries increase, then 10% can be expensive. If this happens then the petrol and diesel prices may increase from Rs. 6 to Rs. 8 per liter. Anuj Gupta feels that petrol in the next few months will cost Rs 5 and diesel may be costlier from Rs 3 to Rs 3.5 per liter.

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