Diesel Price Hike: Following premium petrol, oil companies have also increased the price of industrial diesel. The price has been increased by approximately ₹22 per liter.
Add informalnewz.com as a Preferred Source
Diesel Price Hike: After premium petrol, industrial diesel prices have now been increased. According to PTI reports, IOCL has increased the price of industrial diesel to ₹109.59 per liter. Previously, the price was ₹87.67 per liter, representing a price increase of ₹21.92 per liter. The increase in industrial diesel prices will directly impact companies that purchase large quantities of diesel.
Where is industrial diesel supplied?
Industrial diesel isn’t supplied through standard pumps. It flows directly from company to company. Companies that use more diesel will now have to spend more money. This will impact the common man’s pockets in the future.
The increased cost of industrial diesel will increase companies’ input costs, which could lead to an increase in the prices of their products.
Premium petrol prices have increased
On March 20th, oil companies increased the price of premium petrol by ₹2.09 to ₹2.35. However, there has been no change in the prices of regular petrol and diesel. However, the recent increase in crude oil prices has significantly increased the pressure on the companies. If the war does not end soon, regular petrol and diesel prices may also see an increase in the future.
What did the Petroleum Ministry say about the price hike?
Speaking to the media, Sujata Sharma, Joint Secretary of the Ministry of Petroleum and Natural Gas, said, “There is some information about some increase in the premium category. But this represents only 2 to 4 percent of the country’s total petrol sales.” She added that there has been no increase in prices for the general public.
Petrol and diesel prices have not increased since April 2022.
Oil companies have not increased the prices of standard petrol and diesel since April 2022. Prices have remained stable since then. Although pressure on oil companies has increased in recent days, oil companies reported a profit of ₹81,000 crore in FY2024. IOCL, BPCL, and HPCL earned a profit of ₹23,743 crore in the December quarter alone.
