Petrol, diesel prices touch new high in two days

17 May, 2018, 15:18 | Author: Hope Soto
  • India's petrol diesel prices rise on May 15 after 19-day freeze by OMCs

According to a PTI report, oil marketing companies like IOC, BPCL and HPCL may hike pertol and diesel prices by almost Rs 4 a litre to maintain their marketing margin at previous levels of Rs 2.70 a litre. According to the website of Indian Oil Corporation, petrol price in Delhi is at Rs 75.10 per litre on Wednesday and Rs 82.94 per litre in Mumbai. Diesel prices have risen by 70-93 paise per litre during the same period. A litre of diesel in Delhi will now cost ₹ 66.57, while in Mumbai, one litre of diesel now costs ₹ 70.88 in Mumbai.

In Delhi, the per litre price of petrol and diesel stood at Rs 74.95 and 66.36 respectively, on Tuesday.

Similarly, petrol prices are at Rs 77.79 per litre in Kolkata and Rs 77.93 per litre in Chennai.

Ltd (BPCL) on Monday ended a 19-day hiatus in revising petrol and diesel prices and reverted to the practices of changing rates on a daily basis.

Before Monday, petrol and diesel prices were last revised on April 24 when they were hiked by 13 paise each.

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In the finance capital Mumbai, the petrol costs Rs 83.16/litre.

Of course the larger your fuel bill becomes, it means you have to make amends in your budget elsewhere as everything else gets affected when fuel costs rise, especially food prices.

Higher crude oil price is negative news for the Indian economy as the country imports three-fourths of its crude requirement. With the increasing price, there is no relief for the public. In other major cities, petrol prices increased by about 0.2% and diesel prices rose by 0.3%. The petrol costs Rs 78.01/litre, and the diesel is priced at Rs 69.33/litre. The motorists will feel the heat of the surge in fuel prices across the nation.

More than one in eight (13 per cent) say the cost of fuel is making them consider buying a hybrid vehicle, while nearly a tenth (9 per cent) are considering switching to electric.

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