In such a situation, the question is whether the prices of petrol-diesel (Petrol Diesel Price) in the peak of Corona are still increasing. So will its prices increase in the coming time.
Petrol and diesel prices continue to rise steadily. Even in big states like Maharashtra and Rajasthan, its prices have crossed 100. In fact, due to the attack on the oil pipeline in America, there has been a surge in the prices of crude oil, which has started showing its effect in India as well. In such a situation, the question is whether the prices of petrol and diesel in the peak of Corona are increasing even then. So will its prices increase in the coming time.
Talking about the latest price, the oil companies have increased 26 paise per liter on petrol. While 33 paise per liter has been increased on diesel. Earlier on Monday, the price of petrol in various cities of the country has been expensive by 18 to 27 paise per liter and the price of diesel from 26 to 35 paise per liter.
Why the prices went up
Experts believe that due to cyber attack, America’s largest refined product pipeline company Colonial Pipeline has shut down its entire network. With the help of this pipeline, half of the American East Coast is supplied. It is believed that the incident in the US will have an impact on India as well and the price of gas along with the price of petrol and diesel may rise.
Now what next
For the last three weeks, crude and WTI crude is closing down rapidly. Anuj Gupta, vice president of IIFL SECURITIES, says that WTI can reach $ 68 and Brent crude to $ 73 a barrel. Let us know that with the increase of one dollar in the price of crude oil, the price of petrol in India increases by 55 paise per liter and diesel by 60 paise per liter. In such a situation, it is believed that in the coming days, there may be a further increase in the prices of petrol and diesel.
How important is the US oil pipeline
According to a Reuters report, the Colonial Pipeline transports 2.5 million barrels of gas on a daily basis. Its tunnel network is about 8850 kilometers that connects Texas to New York. In the US East Coast, 45 percent of the fuel supply is from this pipeline. It passes through 14 southern and eastern states of America. With the help of this pipeline, North and South America are connected to the Gulf Coast refinery. This pipeline connects the busiest and largest airports in the United States, such as Atlanta Jackson Airport.
