Prices of petrol and diesel have risen to 55-month high on Sunday. The price hike is due to the rise in crude oil prices in the international market. The price of petrol has reached the highest level in the last 55 months in Delhi, while the price of diesel is also at the highest level so far. The skyrocketing prices of petrol and diesel, has come a big shock for the consumers.
In Delhi, the price of petrol has reached Rs. 74.40, the highest price since September 2013. The price of petrol in Kolkata is 76.78, 81.93 in Mumbai and 76.85 in Chennai. Speaking of diesel, the price has reached a record peak of Rs 65.65 in Delhi. Similarly, 68.01 in Kolkata, 69.54 in Mumbai and Rs 68.9 in Chennai is getting diesel.
The rising prices of petrol and diesel are due to the rising cost of crude oil in the international market. Significantly, there are assembly elections in many states this year and Lok Sabha elections next year. The current BJP government may have to pay the price of this rise in petrol and diesel prices as in all the states where the assembly elections are due, except for Karnataka, there is a BJP government.
Knowledgeable in the petroleum sector believe that the rise in prices of petrol and diesel may be due to the reduction in crude oil supply as a result of ban on Iran and conflict in Syria.