In Kerala, price of regular petrol per litre inching towards century mark
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On Thursday, oil corporations hiked the gasoline price but once more, the seventeenth time in slightly over a month. The price was hiked by 26 paise for petrol and eight paise for diesel in Kerala
The price of regular patrol per litre in Kerala is inching nearer to the century mark, whereas the premium-grade petrol has already breached it.
On Thursday, oil corporations hiked the gasoline price but once more, the seventeenth time in slightly over a month. The price was hiked by 26 paise for petrol and eight paise for diesel.
The price of petrol and diesel rose by ₹4.55 and ₹4.45 respectively in only a month, with a mean price hike of between 23 and 30 paise each alternate day.
The price of regular petrol in Ernakulam touched ₹98.14 a litre and ₹93.32 for diesel, whereas it was ₹101.99 for premium-grade petrol.
Base price
“The price in Ernakulam is considered the base price for fuel in the State since it houses the Kochi Refinery from where it is transported across the State. The price across Kerala will vary depending on the transportation costs from Ernakulam. At this rate, the price of regular petrol may cross ₹100 in a week,” stated R. Sabarinath, nationwide vice-president, Federation of All India Petroleum Traders.
He shot down experiences in a piece of the media giving the impression that the price of regular petrol per litre has already hit the century mark. “Even after taking into account the transportation cost, regular petrol is yet to touch the mark compared to the premium petrol that is priced ₹2 to ₹4 more. Premium petrol accounts for a negligible portion of the total sale,” stated Mr. Sabarinath.
The gasoline consumption, which dropped to round 25% because the lockdown, has risen to just about 70% of the traditional consumption because the unlock.
“However, diesel consumption was still hovering around 30% as inter-district movement, especially that of heavy and transport vehicle, remains to be restored,” stated Radhakrishnan Meleth, patron, All Kerala Federation of Petroleum Traders.
No drop in consumption
Mr. Sabarinath stated that the frequent rise in gasoline price hasn’t led to a drop in consumption. “One set of buyers never increases the fuel intake irrespective of the change in price, while another category increases the volume notwithstanding their agitation. Between them, they kind of balance our sales,” he stated.
Meanwhile, Mr. Meleth lamented that the fee for petroleum sellers hasn’t elevated in eight years.
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