Petrol, diesel prices likely to hiked by up to Rs 7 as global crude prices soar
Thursday, December 15, 2016 IST
Petrol, diesel prices likely to hiked by up to Rs 7 as global crude prices soar
New Delhi: With oil costs at the international market hitting $55 a barrel, oil organizations in India are probably going to climb the costs of petrol and diesel on Thursday.
Oil organizations may take the climb choice after their meeting today.
Twice every month, on 15 and 30/31, oil organizations either climb or diminish the costs of fuel in India relying upon the universal market and the INR-USD swapping scale.
What's more, with the rupee hitting 67 against the US dollar and the cost of unrefined petroleum in worldwide market hitting USD 55 for every barrel, it is likely that the costs of petrol
what's more, diesel could be climbed.
In addition, with the Organization of Petroleum Exporting Countries (Opec) cutring generation of unrefined petroleum by 1.2 million barrels for every day (mpbd) interestingly since 2008, fuel costs in India are probably going to ascend in the following 3-4 months, a report said prior.
As OPEC consented to cut generation of oil interestingly since 2008 in a last-jettison offer to bolster costs, the costs of Brent oil hit USD 54.56 a barrel, the greatest week by week pick up since 2009.
What's more, with this ascent in global raw petroleum cost, Crisil Research expects the cost of petrol to rise 5-8 percent and that of diesel by 6-8 percent throughout the following 3-4 months.
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