Oil Minister Dharmendra Pradhan recently said that recovery should take ‘primacy’ over oil prices at least for the next few months
Fuel prices have seen a sharp rise for the tenth consecutive day, touching new heights across the country. A day after petrol price crossed the Rs 100 mark in Rajasthan, the regular petrol hit the three-figure mark in Madhya Pradesh as well.
According to a report by The Indian Express, in Madhya Pradesh’s Anuppur, a litre of petrol costs Rs 100.25 per litre while diesel costs Rs 90.69.
Similarly, in Delhi, petrol price was hiked by 34 paise per litre and diesel got dearer by 32 paise. With the hike, diesel crossed the Rs 80 per litre mark retailing at Rs 80.27 in Delhi, while petrol is selling at Rs 89.88.
In Mumbai, petrol costs Rs 96.32, while diesel costs Rs 87.32.
According to a report in Business Today, a litre of petrol in Bengaluru costs Rs 92.89 per litre, while diesel rate stands at Rs 85.09 a litre.
The report added that the government has urged the oil producers’ cartel — the Organisation of Petrol Exporting Countries (OPEC) — as well as its allies such as Russia, to reduce production cuts as higher prices are affecting demand and adding to inflation.
The report further quoted Oil Minister Dharmendra Pradhan as stating that price-sensitive Indian consumers are affected by rising petroleum product prices.
However, as per a report in The Economic Times, Pradhan also demanded that recovery should take ‘primacy’ over oil prices at least for the next few months.
International oil prices have been increasing since Saudi Arabia pledged additional voluntary output cuts of 1 million barrels per day in February and March following a deal between OPEC and its allies, including Russia.
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