Fuel prices are not seeing a day without rising; it has hiked by 30 paise per litre for the 6th time in a week while diesel prices were raised by 35 paise. This takes the total hike in rates in the past week by Rs 4-4.10 per litre. It is the 6th increase after the prices were stagnant for 4 and half months until 22nd March.
The price of petrol in Delhi is now Rs 99.41 per litre which was Rs 99.11 previously and diesel rates have gone up from Rs 90.42 per litre to Rs 90.77. In Mumbai, the petrol and diesel prices per litre are at Rs 114.19 and Rs 98.50, the prices increased by 31 paise and 37 paise respectively.
The rate revision was expected soon after the counting of votes on March 10 but it was put off by a couple of weeks. The increase in retail price was also due to the increase in crude oil prices rising during the 137-day hiatus from $82 per barrel to $120 which is a huge jump for oil retailers to cope with.
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