Tank Full Karalo’: Fuel Prices Likely To Increase From Tonight
Check Petrol, Diesel and LPG Prices in Dharwad District
HUBBALLI: Have you filled up your fuel tank? If not, then do it immediately because the prices of petrol and diesel are likely to go up from tonight (Tuesday, March 8, 2022).
Fuel prices have not been increased since November 4, 2021, an incredible gap of more than four months. The reason for this generosity by the government of India was said to be the assembly elections in five states, including the politically crucial state of Uttar Pradesh.
But now that the assembly elections are over (the last phase of polls in Uttar Pradesh got over on Monday), all signs point to an imminent hike in the fuel prices. The hike is inevitable because the price of crude oil has gone up from $81.5 a barrel to $120 a barrel in the last four months. The main reason is the war in Ukraine. The West is not buying Russian oil, jacking up the prices. Secondly, the value of the Indian rupee has gone down and is nearing 77 versus the US dollar.
Crude oil is the oil taken straight from an oil well. The crude oil is then taken to the refinery. Governments then add various taxes to it. The last stage is the dealer commission before it’s sold at the pump.
According to media reports, fuel prices (both petrol and diesel) will have to be increased by up to Rs 15 if oil marketing companies are to break even. Break-even means when a business neither makes profit nor suffers a loss. But since the hike would be too steep, the government may cut down the taxes to reduce the burden on the common man.
Here’s the price of petrol, diesel and LPG in Dharwad district on Tuesday, March 8, 2022:
Petrol: Rs 100.31 per litre
Diesel: Rs 84.79 per litreLPG: Rs 919 per 14.2 kg
