Petrol and diesel prices were once again increased on Friday after a day’s pause which results in two straight hikes.
Once again petrol and diesel got costlier after a day’s pause on Friday, resulting in two straight hikes. Fuel rates were hiked by ₹ 2.40 per litre in four days. A litre of petrol in Delhi will now cost ₹ 97.81, while diesel will be sold at ₹ 89.07, according to a price notification of state fuel retailers.
While in Mumbai, Maharashtra petrol will be retailed at ₹ 112.51 per litre, while diesel will be retailed at ₹ 96.70 per litre. Comparing the metros cities, fuel rates are much higher in Mumbai. The prices vary across the states due to VAT.
The rates were held steady for over four months despite the spike in crude oil prices. The rate revision had ended on March 22.
Petrol and diesel prices were hiked by 80 paise a litre each on Friday. This is the third this week.
Here are the petrol and diesel price across the metro cities:
City Petrol Diesel
Delhi 97.81 89.07
Mumbai 112.51 96.70
Chennai 103.67 93.71
Kolkata 107.18 92.22
Source: Indian Oil
Oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.
Prices were constant since November 4 ahead of the assembly elections in five states. Off late the crude oil prices soared by $30 per barrel.
The domestic prices of petrol and diesel are linked to international rates in India as it is 80% dependent on imports to deal with its oil needs.
As per the experts, the prices will continue to hike in the coming days as crude oil prices have increased inconsequentially.
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