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Thursday, June 1, 2023

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 Petrol And Diesel Prices Were Hiked For The Third Time This Week

 Petrol and diesel prices were hiked by State-owned oil marketing companies (OMC) on Friday for the third time this week. This comes after the fuel rates were hiked by 80 paise each across the nation on Wednesday. These prices were revised for the very first time on Tuesday after a gap of more than four months.

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  The price of petrol and diesel in Delhi increased by 80 paise a litre each on Friday. Petrol is selling at Rs 97.81 per litre in the national capital while diesel is trading at Rs 89.07 per litre. This is the third increase in four days with a total hike now being Rs 2.4/litre.

  The increase in fuel rates, the steepest single-day rise since the daily price revision was started in June 2017, comes after a record 137-day hiatus after the nation witnessed Assembly elections in five states.

  The ongoing war by Russia in Ukraine has sent crude oil prices to new heights. The cost of raw material (crude oil) has risen by $30 per barrel during the period.

  The central government raised the rate of bulk diesel by Rs 25 per litre last week. This resulted in an increase in price for bulk users in Mumbai to Rs 122.05 per litre, as compared to Rs 96.70 per litre for individual buyers.


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