The fresh record highs in petrol and diesel across the country were observed after state-owned oil marketing companies (OMCs) hit prices on Friday. Fuel prices have now risen for four consecutive days, eliminating all reductions between 24 March and 15 April.
Petrol and diesel rates increased sharply, respectively, by 28 countries and 31 countries. The prices of key automobile fuels throughout the country have increased by nearly Rs 1 per litre over the last 4 days.
One litre of petrol costs Rs 91.27 per litre in Delhi compared to the previously recorded Rs 90.99. Petrol now shops in Mumbai at Rs 97.61 per litre. In other major cities, such as Chennai (Rs 93.15), Bengaluru (Rs 94.30), Hyderabad (Rs 94.86), Jaipur (rs 97.65) and Patna, it is also increasing (Rs 94.31).
There are cities where the price of petrol crossed Rs 100 per litre again. In Rajasthan’s Sri Ganganagar, a litre of gasoline is Rs 102.15, while in Madhya Pradesh’s Anuppur it costs Rs 101.86.
Similarly, diesel prices have reached a new national record. One litre of diesel costs Rs 81.73 in the national capital, while Rs 89 is likely to cross in Mumbai following another rise.
In all major cities, including Kolkata (Rs 84.57), Chennai (Rs 86.65), Bengaluru (Rs 86.64), Hyderabad (Rs 89.03), Jaipur (Rs 90.25) and Patna, the fuel rates have increased (Rs 87.68).
The sharp rise in fuel prices may add to inflationary pressure, which in the midst of the continuing Covid-19 crisis is likely to threaten a near-term economic recovery.
The reason behind India’s new fuel price rise is the steady global price of crude oil. The OMCs also raise rates to compensate for the losses incurred as a result of artificially keeping prices artificially low for nearly two million years.
Citizens and companies feel the pinch of the last hike because petrol and diesel rates in the country are already high due to their taxes.
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