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Average price of Indian crude oil increased by $19.33/barrel in Feb-Mar: Govt
The government on Monday informed the Parliament that the average price of Indian basket of crude oil has increased from $94.07 per barrel in February, 2022 to $113.40 per barrel in March, 2022.
Replying to a question raised in the Rajya Sabha by Member of Parliament (MP) Subramanium Swamy, Minister of State (MoS) in Petroleum and Natural Gas Ministry Rameswar Teli stated that the prices of petrol and diesel have been market-determined from June 2010 and October 2014, respectively and the public sector oil marketing companies (OMCs) take appropriate decision on pricing of petrol and diesel.
“The OMCs take appropriate decision on pricing of petrol and diesel in line with their international product prices, exchange rate, tax structure, inland freight and other cost elements,” he added.
Meanwhile, the petrol and diesel rate today were increased for the 12th time in two weeks by oil marketing companies (OMC). In all, petrol prices have gone up by Rs 8.40 per litre in a span of two weeks. Petrol in the National Capital of Delhi currently retails at Rs 103.81 per litre up from Rs 103.41 per litre yesterday, an increase of 40 paise from yesterday while diesel in the city is priced at Rs 95.07 per litre up from Rs 94.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 118.83 and Rs 103.07, respectively.
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