After the relief on Wednesday, again the prices of petrol and diesel have been increased in the country. Today, petrol is 13 paise and diesel has increased by 11 paise. After that, the price of petrol in Mumbai has reached Rs. 89.
Today, a litre of petrol is priced at Rs 81 per litre in Delhi and Rs 88.39 per litre in Mumbai. Speaking of diesel at the same time, today, the cost of litres is Rs 73.08 in Delhi and Rs 77.58 in Mumbai.
On the basis of global crude oil prices and the position of the rupee against the US dollar, government oil marketing companies revise petrol and diesel prices. IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) are the three major state-owned oil marketing companies in the country.
At present, WTI crude price is $ 69.91 a barrel and Brent crude price is $ 79.31 a barrel. Significantly, India imports 80% of its crude oil requirement. Significantly, there is a large share of petrol and diesel in India’s import bill.