Nation Current Affairs 18 May 2021 Petrol price skyrock ...

Petrol price skyrockets; Rs 96.22 per litre

DECCAN CHRONICLE.
Published May 18, 2021, 7:56 am IST
Updated May 18, 2021, 8:56 am IST
The pandemic dampened the entire nation’s economy and even the oil companies are looking to make up for their losses
The price of petrol is subjected to change daily as petroleum companies such as Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL) alter the fuel prices based on the crude oil prices. — PTI
 The price of petrol is subjected to change daily as petroleum companies such as Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL) alter the fuel prices based on the crude oil prices. — PTI

Hyderabad: The price of petrol in the city rose up to Rs 96.22 on Monday, the highest it has ever seen, say petroleum dealers. 

The price of petrol is subjected to change daily as petroleum companies such as Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL) alter the fuel prices based on the crude oil prices.

 

“The pandemic has dampened the entire nation’s economy. So, even the oil companies are looking to make up for their losses, by raising the price of petrol per litre. It is a known fact that the price of petrol would increase due to fluctuations in the crude oil price per barrel. The only rise that we are witnessing now is due to the oil companies,” Rajiv Amaram, joint secretary, Consortium of Indian Petroleum Dealers, told this newspaper.

While the prices have been increased for the consumer, the dealers are still being given only Rs 4 per litre, by the oil companies, he added.

 

On March 1, the price per litre was Rs 94.79, against Rs 94.16 on April 1 and Rs 93.99 on May 1.

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Location: India, Telangana, Hyderabad




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