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.
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised on a daily basis.
After touching the $ 74 a barrel mark last week, benchmark Brent crude is marginally lower now at around $ 72 a barrel.
Across the country as well the petrol and diesel prices remained static on Thursday but their retail rates varied depending on the level of local taxes in a particular state.
This pause in prices came after fuel prices increased for 41 days in the current financial year. The 41 increases have taken up petrol prices by Rs 11.44 per litre in Delhi. Similarly, diesel rates have increased by Rs 8.74 per litre in the national capital.
Global crude oil prices have fallen in the past few days but have again firmed up over $71 a barrel now. Accordingly, in the national capital, petrol continues to be sold for Rs 101.49 per litre and diesel at Rs 88.92 a litre.
