By Tehelka Bureau
Petrol and diesel prices were hiked once again on Monday, marking the fourth increase in the last two weeks. This fresh revision has pushed petrol prices above the Rs 100 mark in the national capital.
Petrol prices have been increased by Rs 2.61 per litre, taking the new rate in Delhi to Rs 102.12 per litre. Diesel prices have gone up by Rs 2.71 per litre and will now cost Rs 95.20 per litre in Delhi.
This is the fourth hike in fuel prices within just 11 days. The continuous increases come amid the ongoing Iran-US war, which has disrupted global oil supply and created pressure on oil marketing companies.
Revised petrol prices in major cities:
Delhi: Rs 102.12 (+Rs 2.61)
Kolkata: Rs 113.51 (+Rs 2.87)
Mumbai: Rs 111.21 (+Rs 2.72)
Chennai: Rs 107.77 (+Rs 2.46)
Revised diesel prices:
Delhi: Rs 95.20 (+Rs 2.71)
Kolkata: Rs 99.82 (+Rs 2.80)
Mumbai: Rs 97.83 (+Rs 2.81)
Chennai: Rs 99.55 (+Rs 2.57)
The repeated hikes are expected to increase the burden on common people. Transportation costs are likely to rise, which in turn may push up the prices of daily essentials like milk, vegetables, and bread.
Oil marketing companies (IOCL, BPCL and HPCL) had been absorbing heavy losses for weeks due to high crude oil prices caused by the Iran conflict. Experts say these price revisions are necessary to reduce the daily losses of over Rs 1,000 crore faced by the companies.
This marks the end of a long period of stable fuel prices that had lasted since April 2022.
