On Friday, the diesel and petrol prices continue to rise four days in a row. Diesel and Petrol prices increase by 31 paise per liter and 28 paise per liter, respectively in the national capital. Now, petrol is available at 91.27 per litre and diesel at Rs 81.73 per litre at state-run Indian Oil Corporation Ltd’s outlets.
However, the data from the Petroleum Planning and Analysis Cell showed that the cost of the Indian basket of crude was $67.60 a barrel on 6 May. It includes Oman, Dubai, and Brent crude. According to the Covid outbreak, the prices of crude oil for the Indian basket had plunged to $19.90 (March) before recovering to $63.40 a barrel in April.
Interestingly, petrol and diesel retail prices in India had remained quiet during assembly elections in five states. The three government-run OMCS—Bharat Petroleum Corp. Ltd (BPCL), Indian Oil Corp. Ltd (IOCL), and Hindustan Petroleum Corp. Ltd (HPCL). The state-run OMCs and the government have maintained that there is no correlation between transportation fuel price freeze and elections.
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