Global crude prices are on the upswing and may soon set domestic petrol and diesel prices on fire.
Zee Media Bureau
New Delhi: Global crude prices are on the upswing and may soon set domestic petrol and diesel prices on fire.
Brent crude climbed as much as 2.1 per cent to touch $52.54, the highest price since last October.
Considering that Indian crude basket prices are taking cues from the global prices, and have risen around 5 percent since May 31, when the last revision took place, the oil marketing companies are most likely to increase the petrol, diesel price on retail front by around 5 percent or Rs 3.
On May 30, Indian crude oil basket was Rs 3133.13 per barrel, which rose to Rs 3287.65 per barrel on June 9, a spike of around 5 percent.
So, it is expected the petrol and diesel and petrol prices are again set to spike in the fortnightly review meeting of the oil marketing companies which is next expected on June 15.
|Date||Petrol Price( Rs)||Change in price( Rs)|
|Date||Diesel Price( Rs)||Change in price( Rs)|
|17 May||51. 67||1.26|