The prices of petrol and diesel in the country have been increased fourth time in just five days. The Indian Oil Corporation Limited on Saturday hiked the fuel prices by 80 paise per litre. The spike in prices of petrol and diesel is due to the rise in the cost of raw materials because of the Russia Ukraine war.
In Delhi, the price of petrol has now gone up from Rs 97.81 per litre to Rs 98.61 whereas the diesel will now cost Rs 89.87 per litre as against Rs 89.07.
The oil companies revised the fuel prices on March 22 after a four and a half month-long hiatus and since then the company has raised the petrol and diesel prices by Rs 3.20 per litre.
This week the country has witnessed a major spike in fuel prices in a single day, 80 paise per litre, which is a steepest single-day surge since the daily price revision started in June 2017.
Despite crude oil prices rising to multi-year highs last month, reaching USD 132 per barrel, the prices of petrol and diesel were on a freeze since November 4. It was said the government was waiting for the elections to get over in five major states- Punjab, Haryana, Uttarakhand, Manipur and Goa and will increase the prices after the result day on March 10.
The oil companies did not revise the fuel prices for a record of 137 days despite the price of raw material for producing fuel reaching its peak.
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Check how much you have to pay in your city for petrol and diesel on March 26.
Delhi
Petrol – Rs 98.61 per litre
Diesel – Rs 89.87 per litre
Mumbai
Petrol – Rs 113.35 per litre
Diesel – Rs 97.55 per litre
Kolkata
Petrol – Rs 108.01 per litre
Diesel – Rs 93.01 per litre
Chennai
Petrol – Rs 104.43 per litre
Diesel – Rs 94.47 per litre
Bhopal
Petrol – Rs 110.72 per litre
Diesel – Rs 94.16 per litre
Hyderabad
Petrol – Rs 111.80 per litre
Diesel – Rs 98.10 per litre
Bengaluru
Petrol – Rs 103.93 per litre
Diesel – Rs 88.14 per litre
Guwahati
Petrol – Rs 98.12 per litre
Diesel – Rs 84.21 per litre
Lucknow
Petrol – Rs 98.46 per litre
Diesel – Rs 90.01 per litre
Gandhinagar
Petrol – Rs 98.52 per litre
Diesel – Rs 92.64 per litre
Thiruvananthapuram
Petrol – Rs 109.78 per litre
Diesel – Rs 96.79 per litre
Mallikharjun Kharge, the Leader of the Opposition in the Rajya Sabha, has asked for a one-time hike in petrol prices in the midst of small increases. He said the Centre is increasing prices by 80 paise, sometimes by Re 1. If they (Centre) want to raise the price, they should do so all at once. He went on to say that it didn’t matter whether it is Rs 10, 15, or 20. The centre is troubling the people by increasing the prices like this. They are tampering with the lives of ordinary people, he said.
According to Moody’s Investors Services, oil marketing businesses are currently losing roughly USD 25 (around Rs 1,900) per barrel and USD 24 per barrel on the sale of petrol and diesel, respectively. Diesel prices are expected to rise by Rs 13.1 to Rs 24.9 per litre in the coming days. Similarly, experts predict that the price of petrol will rise by Rs 10.60 to Rs 22.30.
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