look news india
The people of Bihar have faced another big shock of inflation. Due to the ongoing tension in West Asia and the rise in global crude oil prices, the country’s government oil companies have once again increased fuel prices. Under this increase at the national level on Saturday, May 23, petrol has been increased by 87 paise and diesel by 91 paise per liter.
This is the third major increase in fuel prices within the last 9 days (May 15 to May 23), which has completely shaken the monthly budget of the common man.
Today’s petrol and diesel rates in major cities of Bihar (23 May)
Oil prices vary in different districts of the state due to local taxes, VAT and transportation costs. The new rates updated on Saturday are as follows:
| City | Petrol (₹ per liter) | Diesel (₹ per liter) |
| Patna | 111.11 | 97.14 |
| Muzaffarpur | 111.22 | 97.21 |
| Purnia | 111.96 | 97.90 |
| Gayaji | 111.49 | 97.49 |
| Sitamarhi | 111.75 | 97.76 |
| jamui | 111.50 | 97.47 |
| Bettiah | 111.33 | 97.20 |
| Bhagalpur | 110.59 | 96.89 |
| Begusarai | 118.44 | 97.30 |
Fuel became expensive by Rs 5 in 9 days
The pace of inflation can be gauged from the fact that within just one week, petrol has become costlier by about Rs 5.24 and diesel by Rs 4.95 in cities like Muzaffarpur. Earlier, the prices were increased on May 15 and May 19 also.
Why are prices increasing?
Oil companies say that the cost has increased due to the rise in crude oil prices in the international market and the ongoing geopolitical instability in West Asia. This price revision has been done to compensate for the losses incurred by the oil companies. Government oil companies in India update new prices every morning at 6 am under the ‘Daily Price Revision’ system.
Concern about impact on inflation
Economic experts and transporters believe that the continuously increasing fuel prices will affect not only private drivers but the entire economy. Due to increase in the price of diesel, transportation of fruits, vegetables, milk and other essential commodities will become expensive, due to which there is a possibility of further rise in the inflation rate in the market. According to experts, until the situation of crude oil in the international market becomes normal, there is a possibility of further increase in prices.