Another Hike! Petrol Costlier By Rs 7.97, Diesel Rs 8.88 In 15 Days!

NEW DELHI: First time, perhaps, in independent India's history, prices of petrol and diesel were hiked for the 15th consecutive day on Sunday. In the latest bout of price increase, petrol was made dearer by 35 paise and diesel by 60 paise. With this, petrol became costlier by 7,97 and diesel by Rs 8.88 only within the last fortnight.

Thanks to the unabated daily hikes, the price of the essential energy fuel iis hovering around Rs 80 in Delhi even as diesel is being sold at an all-time high rate. With the latest hike, petrol and diesel prices have registered a 19-month high. Before this, petrol and diesel prices soared to record high in 2018. In October of that year, petrol price shot up to Rs 84 pe litre in Delhi while diesel price hit a peak of Rs 75.69.

After Sunday's rise, the latest petrol, diesel rates in major cities:
New Delhi: Petrol ₹79.23 Diesel ₹78.27
Gurgaon: Petrol ₹77.48. Diesel ₹70.74
Mumbai: Petrol ₹86.04. Diesel ₹76.69
Chennai: Petrol ₹82.58. Diesel ₹75.80
Hyderabad: Petrol ₹82.25. Diesel ₹76.49
Bengaluru: Petrol ₹81.81. Diesel ₹74.43

But for those looking for some relief from this continued hike in petro prices, here is some bad news. Reports suggest that the fuel hike is all likely to continue for a few more days as the oil marketing companies would look to make up for the losses due to recovery in crude oil rates.

The Central government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre before effecting a record increase on Ma 5 by a whopping Rs 10 per litre for petrol and Rs 13 for diesel. However, that did not affect retail prices born by the end-consumer as the hike was adjusted against the drop in crude oil rates.