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The impact of falling rupee, petrol-diesel goes on record level, domestic LPG crosses Rs 500

Thursday - October 4, 2018 12:11 pm , Category : WTN SPECIAL
Petrol-diesel-LPG rates crossing barrier of high prices
Petrol-diesel-LPG rates crossing barrier of high prices

Increasing price of petrol-diesel-LPG worsens the common men budget

OCT 04 (WTN) - The common men of the country have been facing inflation due to consistently weakened rupees against the US dollar. First of all talk about petrol-diesel, so its prices continue to increase. In Delhi, the price of petrol has increased by 15 paise per liter, followed by one liter of petrol for Rs 84, whereas diesel has increased by 20 paise  per liter, followed by one liter diesel at 75.45.

Talk to Mumbai, the price of one liter of petrol is 91.34 rupees and one liter of diesel has reached record level of Rs 80.10. Here the hit of inflation is also seen on domestic LPG cylinders. For the first time, the cost of LPG has crossed 500 rupees. Even after this, the Central Government doesn’t seem to take any step to relieve the public. Because of which the budget of the people went wrong.

For your information let you know that India is the third largest importer of crude oil and due to the rising prices of crude oil in the international market and the demand is strong, fuel prices in the domestic market are increasing day by day. Before the US banned on Iran, Brent crude has reached a high level after November 2014. Brent crude prices have increased to $ 83.27 per barrel, which was $ 71 per barrel five weeks ago.

Due to American sanctions on Iran, Indian oil companies have not ordered oil from Iran since November, due to which India will have to import oil from countries such as Saudi Arabia and Iraq. It is being said that after negotiations with S-400 of Russia, the US can impose some economic sanctions on India, which is likely to weaken the rupee.

Here, the period of rupee weakening against the dollar is also in progress. The rupee has broken 5 to 6 percent against the dollar in the last few days due to which the import of crude oil has been expensive. For your information, let you know that due to the weakening of the rupee, with the increase in the prices of crude oil, from mid-August to today's date, petrol has been costlier by Rs 6.59 per liter, while diesel has been costlier by 6.37 rupees per liter.

After petrol-diesel, oil companies have now increased the price of domestic LPG cylinders. 14.2 kg of non-subsidized LPG gas cylinder has already crossed 500 rupees for the first time. In Delhi, the cost of subsidized LPG gas cylinders for 14.2 kg has gone up to Rs 502.40, while the cost of non-subsidized gas cylinders is Rs 879.

Talk about LPG, so far it was not so much increasing of price was seen in it. In May 2014, when the NDA government was formed under the leadership of the BJP at the Center, at that time the price of domestic LPG cylinder of 14.2 kg without subsidy was 414 rupees. At this time, it is getting 500 rupees i.e. in the last four and a half years it has increased to 86 rupees. Long time ago, the government had indicated that the subsidy on domestic gas cylinders will be gradually reduced, after which people are afraid that after the petrol-diesel, the LPG prices would be decided by the market.
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