This is the sixth time in the last seven days that state-owned oil companies have raised fuel prices. On Sunday, petrol and diesel prices were hiked by 50 paise and 55 paise, respectively.
State-owned oil companies IOC, Bharat Petroleum Corporation and HPCL have reported losses of over Rs 19,000 crore as fuel prices remained stagnant for 137 days. The assessment is that the daily rise in fuel prices is inadequate.
All this indicates that prices will continue to rise. With the rise in fuel prices, the next inflation report and monetary policy are crucial. On the 22nd, the companies had increased the price of cooking gas along with the price of fuel. The price has been hiked by Rs 50 per domestic cylinder and Rs 13 per 5 kg child cylinder. With this, in many places, if you want to get a domestic cylinder home, you have to pay more than Rs 1,000.
International oil prices have risen sharply in the wake of the Russia-Ukraine war. There are indications that fuel prices will continue to rise in the coming days. International oil prices, which were probably $ 130 following the war, fell to $ 100, but are now hovering around $ 120. India’s only hope is the stagnation of Russian oil following sanctions. Russia, which has met more than 40 per cent of Europe’s oil demand, is offering oil to India at lower rates. Efforts are on to complete the transaction in rupees. It is estimated that fuel prices and inflation will fall significantly if Russian oil comes to India, which currently imports more than 80 per cent of its oil.
Today’s petrol price hike in the state, per liter, in brackets today
Alappuzha- ₹ 108.97 (+0.32)
Kochi- ₹ 108.51 (+0.33)
Kalpetta- ₹ 109.74 (+0.33)
Kannur- .7 108.76 (+0.32)
Kasargod- ₹ 109.71 (+0.33)
Kollam- ₹ 109.93 (+0.32)
Kottayam- ₹ 109.01 (+0.33)
Kozhikode- ₹ 108.81 (+0.33)
Malappuram- ₹ 109.29 (+0.32)
Palakkad- ₹ 109.79 (+0.32)
Pathanamthitta- ₹ 109.60 (+0.33)
Thrissur- ₹ 109.15 (+0.33)
Thiruvananthapuram – 110.63 (+0.32)
Today’s diesel price in the state, per liter, today’s increase in brackets
Alappuzha- ₹ 96.16 (+0.37)
Kochi- ₹ 95.73 (+0.37)
Kalpetta- ₹ 96.83 (+0.36)
Kannur- ₹ 95.99 (+0.37)
Kasargod- ₹ 96.87 (+0.37)
Kollam- ₹ 97.06 (+0.37)
Kottayam- ₹ 96.19 (+0.37)
Kozhikode- ₹ 96.03 (+0.37)
Malappuram- ₹ 96.49 (+0.37)
Palakkad- ₹ 96.93 (+0.37)
Pathanamthitta- .7 96.74 (+0.36)
Thrissur- ₹ 96.32 (+0.37)
Thiruvananthapuram – 97.72 (+0.37)
(Pricing information attribution-mypetrolprice.com)
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