Petrol Prices Rise Again

Crude oil prices in the international market are showing signs of moving towards the $100 per barrel mark, putting renewed pressure on domestic fuel prices. Rising crude costs are also increasing the revenue losses of oil marketing companies. Under the current conditions, companies are estimated to be incurring losses of around ₹5 per litre on petrol and ₹23 per litre on diesel.

A further rise in crude oil prices could increase the financial burden on oil companies and put additional pressure on domestic fuel prices. Higher input costs are already affecting the margins of oil marketing firms. Future changes in petrol and diesel prices will depend on movements in global crude prices and overall international market conditions.