The reasons for the recent increase in the price of petroleum products have revealed.
According to the document, oil marketing companies’ margins, dealers’ margins are the reason for the increase in prices.
The depreciation of the rupee and the increase in the global market are also the reasons for the increase in the prices of petroleum products.
The price of crude oil in the world market has increased from 88.55 dollars per barrel to 93.93 dollars.
The price per liter increased to Rs 252.13 from Rs 228.59 due to increase in prices in the global market. Which is the reason for the increase in petroleum products price.
OMC margin on petroleum products has increased by 47 paisa and dealers commission by 41 paisa, OMC margin on petrol has increased to Rs.647 paisa per liter and dealers commission has increased to Rs.741 paisa.
On the other hand, the Ministry of Finance says that the OMC margin and dealers commission on petroleum products will further increased.
Massive Hike in Petroleum Prices
According to the document, the freight rate on the purchase of petroleum products per liter has increased by Rs 1.60, the freight rate on petrol has also increased from Rs 3.77 to Rs 5.37