New Delhi, 21 March. Oil marketing companies (OMCs) on Sunday hiked the price of diesel by around Rs 25 per liter, making the fuel much more expensive for bulk consumers such as malls, factories and railways as compared to retail consumers as oil refiners increase crude oil prices. face an increase. , The price of Brent crude has risen nearly 43 per cent to $111.4 a barrel since the beginning of the year, from $78.11 a barrel. India imports about 85 per cent of its crude oil requirement.
On Monday, the Minister of State for Petroleum and Natural Gas said oil and gas companies export surplus production of petroleum products after meeting the domestic demand. Year-wise details of imports and exports of petroleum products (quantity and value) of crude oil, petroleum products and natural gas in the last 5 years are shared.
Oil & gas companies after meeting domestic demand, export surplus production of petroleum products. Details of import of Crude Oil, Petroleum Products & Natural Gas and export of Petroleum products (quantity as well as value) in last 5 yrs, year-wise: MoS Petroleum & Natural Gas pic.twitter.com/fc40X53i7d
— ANI (@ANI) March 21, 2022
Significantly, the price of bulk diesel is now around Rs 25 per liter more than diesel at retail points of oil marketing companies across the country. According to sources in oil marketing companies, in Mumbai, the wholesale price of diesel has increased to Rs 122 per liter from Rs 94.14 per liter at retail points in the city.