According to the sources, petrol and diesel prices were raised by 80 paise per litre and LPG prices were hiked to Rs 50 per cylinder on Tuesday. The hike in those prices was introduced after 41/2 month election-related respite in rate revision. While the prices of diesel have risen from Rs 86.67 per litre to Rs 87.47, in Delhi, petrol costs at Rs 96.21 per litre.
At the same moment, the non-subsidised LPG cylinder price has risen to Rs 949.50 for each 14.2 kg bottle in Delhi. Both LPG and auto fuel prices had been kept in hold since then in spite of the leaping up of the cost of raw material, primarily due to demand returning with economies worldly rebounding from the pandemic and secondarily ascribing to the Russia-Ukraine war.
A 5kg LPG cylinder costs at Rs 349, and for double, a 10kg cylinder will be sold for Rs 669, and a 19kg expensive cylinder is available for Rs 2003.50. With the benchmark international rate in the precursory 15 days, petrol and diesel prices are to be set everyday in line since June 2017. But rates have been kept in hold since November 4, 2021, after the cut excise duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre implemented by the Centre to reduce the rates. Local sales tax has been lessened by certain state governments.
As per the Petroleum Planning and Analysis Cell of the oil ministry, the basket of crude oil that India purchases has increased above USD 128.24 per barrel on 9th of this month. This is a comparative to an average of USD 81.5 per barrel price of the Indian basket of crude oil during the freezing of petrol and diesel prices in the previous 4 months.