On Friday, crude oil prices hit a one-year high. Crude oil prices have risen 6% this week, as economic growth in the US is back on track and the supply crisis continues.
- Crude oil has reached a one-year high internationally
- Crude oil prices rose 6 percent this week
- Petrol and diesel prices have reached record highs in the country
- Oil companies claim that only the government can now provide relief
The price of petrol and diesel in the country has destroyed all records and there is no hope of relief in the coming days. Because on Friday, the price of international crude oil reached a one-year high. Economic growth in the US is back on track and crude oil prices have risen 6% this week due to lack of supply.
US West Texas Intermediate (WTI) raw futures rose 51 cents, or 0.9 percent, to $ 56.73 a barrel. It hit the $ 56.75 level earlier, the highest level since January 22 last year. Brent crude futures rose 45 cents, or 0.8 per cent, to $ 59.28 a barrel, the highest level since February 20 last year. Brent is expected to make a 6% gain this week.
Petrol-diesel prices at record levels
The Joint Ministry of Monitoring Committee (JMMC) meeting of OPEC Plus (OPEC +) countries, an oil-producing countries organization, concluded on Wednesday. In February, crude oil production was set to remain at current levels. Here, in the domestic market, today petrol and diesel are catching fire. This is an increase of 30-30 paise per liter. On the previous day, it was 35-35 paise per liter. Prior to that, prices had been stable for the past seven days. Petrol in Delhi was hiked by Rs 86.95 per liter on Friday and diesel by Rs 77.13 per liter. It’s more than all the time.
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Petrol costs Rs
The New Year is not good for petroleum fuels. While petrol is expensive in just 12 days in January and February, these days it is more expensive at Rs 03.24. Because of this, petrol went up in all cities at an all-time high. The petrol price was also raised in the second half of last year. In fact, its price has been around Rs 17 per liter in the last 10 months.
Diesel also costs Rs
Diesel prices along with petrol are on track. Diesel also cost 35 paise per liter yesterday. Today it has increased to 30 paisa per liter. In the new year, diesel will cost Rs. It is at an all-time high. Look, its price has increased by more than 15 rupees in the last 10 months.
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How do you get relief
Meanwhile, Mukesh Kumar Surana, head of Hindustan Petroleum Corporation (HPCL), the country’s third largest petroleum market, said international crude oil prices had suddenly risen to $ 59 per barrel in the past two-three days. Beyond the concept of demand and supply differences, Saudi Arabia’s production cuts have driven up prices. He said the government could reduce the burden on consumers by cutting taxes.