The general public across the country has once again been hit by inflation. Oil companies have made a big increase in the prices of petrol and diesel from Sunday, May 25. According to the new rates, petrol has become costlier by Rs 2.61 per liter and diesel by Rs 2.71 per liter. After this increase in prices, the price of petrol in the capital Delhi has reached Rs 102.12 per liter and the price of diesel has reached Rs 95.20 per liter. Oil companies say that this decision had to be taken due to the continuous fluctuations in the prices of crude oil in the international market. In the last few days, there has been a huge rise in the prices of crude oil in the global market, whose direct impact is being seen on the Indian market as well.
According to the information, after the increasing tension and war-like situation between Iran and America, oil prices have increased rapidly in the international market. Before the war started, the price of crude oil was around $ 70 per barrel, but now it has increased to beyond $ 100 per barrel. This has increased the economic pressure on oil companies around the world. Experts believe that India imports a large part of its requirement from abroad, hence the cost of oil in the international market has a direct impact on domestic fuel prices. Due to rising prices of crude oil, the cost of oil companies had increased, due to which they had to increase the prices of petrol and diesel to compensate for the losses.
The impact of this increase in fuel prices will be clearly visible on the pockets of common people. Due to petrol and diesel becoming expensive, transportation costs will increase, which can also affect the prices of food items, everyday goods and other commodities. Especially it is expected to have a big impact on the transport and logistics sector. The opposition has started targeting the central government regarding this increase. Many leaders said that it is wrong to put additional burden of fuel prices on the people who are already facing inflation. On the other hand, the government says that due to global conditions there is pressure on prices.
According to economic experts, if the prices of crude oil remain at this high level in the international market, then the prices of petrol and diesel may increase further in the coming days. However, if US-Iran tension reduces and the global market stabilizes, people may get some relief. At present, the increased prices have increased the concern of the common man and the impact of inflation can be felt further in the coming days.
