Mon. Dec 5th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Diesel price hiked by ₹7 in 12 days, petrol by ₹6.5

1 min read

In a span of just 12 days, the price of diesel has increased by 7.04 a litre while that of petrol is up by 6.55 a litre. Petrol price went up by 53 paise in Delhi today and diesel price was hiked by a bigger margin of 64 paise.

New Delhi: Petrol 77.81 Diesel 76.43

Gurgaon: Petrol 76.24. Diesel 69.08

Mumbai: Petrol 84.66. Diesel 74.93

Chennai: Petrol 81.32. Diesel 74.23

Hyderabad: Petrol 80.77. Diesel 74.70

Bengaluru: Petrol 80.33. Diesel 72.68

After 12 days of non-stop hikes, the price of petrol is now at a 19-month high in India. As diesel prices are at a record high, the All India Motor Transport Congress (AIMTC) said the unbridled hike in fuel prices coupled with extortion at border check-posts in states has hit truckers hard and if the government fails to intervene, disruption of transport services cannot be ruled out.

The current spike in fuel rates comes at a time when international crude oil prices have moderated to around $40 a barrel and the demand for fuel is gradually inching back to pre-Covid levels.

After declining more than 8% last week, Brent crude futures fell 1.5% to $40.10 a barrel in the morning today. While prices dipped, they are likely to remain in the $35 to $40 band they have been trading in so far in June, with the Organization of the Petroleum Exporting Countries and its allies, a grouping called OPEC+, mostly sticking to promised supply cuts, U.S. shale producers holding back output, and fuel demand gradually improving, analysts said.


Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.