Tuesday, May 24, 2022
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14 fall in crude oil prices, yet why are prices rising

Crude oil prices fall by $ 14, yet why is the price increasing?

Oil companies in India on Tuesday increased the prices of petrol and diesel by 80 paise for the 13th time in 15 days, despite the fall in international crude oil prices. Including this, their price has increased by Rs 9.20 as compared to 15 days ago. Between March 24 and April 1, India’s crude oil prices fell by 14 14.

Since then, the price of the Indian crude basket has remained stable at $103 a barrel. CNG prices were also hiked by Rs 2.5 on Monday. Its price was Rs 64.11 per liter. Whereas in the attitude of the oil companies, the prices are seeing a further rise. Congress has started an agitation against inflation, which will last till 7 April. At the same time, there was a lot of ruckus in the Parliament against the rising prices.

Parbhani : Petrol comes from a distance of 400 km, so the price is Rs. 122.67
Petrol is getting Rs 122.67 per liter in Parbhani district of Maharashtra. It is considered the most expensive in the country. It is brought from Manmad depot in Nashik district 400 km away due to high cost. President of Parbhani Petrol Dealers Association Amol Bhedsurkar said that Rs. 2.07 more are being spent. The cost of an oil tanker to reach Parbhani from Manmad is 24 thousand rupees.

Prices have increased by Rs 9.20 for the 13th time in 15 days
Petrol: Rs. 104.61 New Delhi (Cost per litre)
Diesel : Rs. 95.87 New Delhi (Cost per litre)
India needs $17.77 trillion to meet emissions target
India would need ₹17.77 trillion to meet its long-term zero-carbon emission target. This green journey will require an additional ₹12.4 trillion in capital. British lender Standard Chartered Bank said in a study that housing costs would rise by $79 trillion if this capital gap was covered by external sources.

It said that India will have to invest $85 trillion in the power sector out of $17.77 trillion to meet climate targets. The energy efficiency sector will require investments of $6 trillion, including industry, transportation and housing.



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