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From June 16th, Fuel Prices are expected to rise by around 11%

From Thursday, June 16, 2022, petroleum product prices are likely to experience one of the largest increases in recent memory.


This is based on information obtained from Bulk Oil Distribution Companies by Joy Business.


According to the data, the price of a litre of diesel is predicted to rise by 11.14 percent, while the price of a litre of gasoline is expected to rise by 13%.


Petrol is currently selling for around $10.10 per litre, while diesel is selling for $12.20.


Despite the fact that crude oil prices have remained relatively stable on the international market, the cost of refining products is increasing.


As a result of this predicament, Oil Marketing Companies (OMCs) are likely to raise market fuel prices.


However, as a result of what transpired during the previous pricing session, some OMCs were forced to renegotiate with BDCs in order to lower their prices.

As a result, the margin of increment will be reduced if this case occurs again.


Meanwhile, any increase in fuel prices may push commercial transportation companies to raise their fees, resulting in an increase in inflation and the cost of living.

Content created and supplied by: Dewriter (via Opera News )

Bulk Oil Distribution Companies

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