The prices of petrol and diesel were hiked again on Monday, for the sixth time in a week,leading to an increase of ₹4.00 and ₹4.10 per litre respectively since Tuesday. Petrol and diesel after the hike of 30 paise and 35 paise respectively in Delhi are now being sold at ₹99.11 per litre and ₹90.42 per litre today.
In Mumbai, the prices of petrol and diesel were hiked by 31 paise and 37 paise respectively. Now, the people in the finance capital will have to pay ₹114.19 for petrol and ₹98.50 for diesel.
The revised rates of petrol and diesel in Chennai is ₹105.18 and ₹95.33, while in Kolkata, the price of petrol is ₹108.85 and diesel is ₹93.92. In Bengaluru, the price of petrol is ₹104.78 and ₹89.02 per litre for diesel.
This is the sixth increase in fuel prices since ending a four-and-half-month pause on March 22. On all four occasions, fuel prices were hiked by 80 paise per litre.
Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
There had been a pause in the revision of fuel prices since November 4 last year, which was broken on March 22 following the crude oil going upwards in the wake of the Russian military operations in Ukraine.
Prices are set to be raised further given the sharp jump in crude oil prices in the international markets. It will have a cascading impact on the prices of other items and lead to inflationary pressure and hurt growth. It will have a cascading effect on the prices of other items.
India is 85 per cent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.
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