New Delhi : The country is likely to see a spike in crude oil price once again. International fuel price have risen sharply. As a result, there are fears of price hikes in crude oil in India as well. The price of crude oil in the international market has reached $120 per barrel.
China rises crude oil prices
After Russia’s invasion of Ukraine for the first time since 2008, crude oil prices hit a record high of $139 a barrel. Crude oil prices have risen since European countries imposed restrictions on oil imports from Russia.
Now there are reports that lockdown restrictions have been relaxed in China. As a result, crude oil prices have risen. Fuel demand is likely to increase as lockdown restrictions are relaxed. As a result, increased demand and insufficient supply have led to an increase in crude oil prices.
India’s concern increased
The rise in crude oil prices has raised concerns in India. In India, between March 22 and April 6, 2022, petrol and diesel have already gone up by Rs 10 per liter. However, the government has reduced excise duty on petrol and diesel to provide relief to the common man. Excise duty on petrol was reduced by Rs 8 per liter and diesel by Rs 6 per liter. Since then, crude oil prices have risen again.
What is the current fuel rate?
Today in Mumbai, petrol is priced at Rs 111.35 per liter and diesel at Rs 97.28 per liter. In Delhi, a liter of petrol costs Rs 96.72 per liter and diesel Rs 89.62 per liter. In Kolkata, petrol is priced at Rs 106.03 per liter and diesel at Rs 92.76 per liter. In Chennai, petrol is priced at Rs 102.63 per liter and diesel at Rs 94.24 per liter.
