The common man in Uttar Pradesh, already grappling with inflation, cooking gas shortages, and increased milk prices, received yet another blow as petrol, diesel, and CNG prices in the state increased starting Friday morning.
India’s state-run oil companies have raised petrol and diesel prices by ₹3 per litre nationwide, pushing fuel costs higher across major cities amid rising crude oil pressures.
The Government has said that citizens are encouraged to use alternate fuels such as PNG and electric or induction cooktops.
In the light of the ongoing developments in West Asia, the Union government on Wednesday said India is maintaining sufficient stocks of petrol and diesel, adding that all refineries are operating at high capacity, with adequate crude inventories in place.
In a strong rebuttal to swirling online rumours and panic-inducing videos, the government on Thursday issued an unambiguous assurance that India faces no shortage of petrol, diesel or LPG, warning that a “deliberately mischievous, coordinated campaign of misinformation” is attempting to mislead the public and trigger needless anxiety.
Petrol and diesel prices witnessed a hike for the fifth consecutive day across the country on Sunday.
The daily review and revision of prices is based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
After rising over three year high level of $80 a barrel earlier this week, global benchmark came down to $78 a barrel and now is again up to $81 a barrel while OPEC+ deciding to stick to its marginal production easing plan and market remaining tight.
In Mumbai, the petrol price is stable at Rs 107.26 per litre, while the diesel rate also remain unchanged at Rs 96.19 a litre.
The concerns on demand due to the pandemic are also affecting oil prices.
