Petrol, diesel prices hike for the fifth time within 6 days !

New Delhi – The price of petrol is rising repeatedly. In the last 6 days, the cost has gone up the fifth time. On the 27^th of March, the cost of petrol increased by Rs 0.50 while that of diesel went up by Rs 0.55. The total hike in price in 6 days is Rs 3.75. The petrol price in Mumbai is Rs 113.85 per litre while diesel is Rs 98.10 per litre. In Delhi, these rates are Rs 99.11 and Rs 90.42 respectively.

After the latest price revision, a litre of petrol in Delhi now costs Rs 99.11 per litre while diesel is priced at Rs 90.42 per litre, according to a price notification of state fuel retailers. #PetrolDieselPriceHike #PetrolPrice #DieselPrice https://t.co/p7E6IR8JWp

— Business Today (@business_today) March 27, 2022

Effect of Russia – Ukraine war on fuel !

Russia is the third biggest country after the USA and Saudi Arabia in the production of oil. Owing to the ongoing war between Russia and Ukraine, 65% of the export of crude oil is not reaching the international market which can lead to an oil crisis in the world. Therefore, the costs of petrol, diesel, and gas are increasing day by day. From 24th February, the day the war was started, the cost of crude oil has been rising. On the 7^th of March, the cost of crude oil had gone up again to US $ 140 per barrel from US $ 90 per barrel. Presently, the cost of crude oil is about the US $ 120 per barrel.