Petrol-Diesel
Fuel Shock in India: Petrol, diesel prices hiked for 4th straight time — More pain ahead?
Fuel prices in India have been hiked for the fourth consecutive time on Monday, with petrol becoming costlier by Rs.2.61 per litre and diesel by Rs.2.71 per litre.
Over the past two weeks, the cumulative increase has reached approximately Rs.7.35 per litre for petrol and Rs.7.53 per litre for diesel.
In Delhi, after the latest revision, petrol now costs Rs.102.12 per litre, while diesel is priced at Rs.95.20 per litre.
The rise in fuel prices comes amid strengthening global crude oil rates, tightening refining margins, and a weakening rupee, all of which have increased India’s import costs.
Will prices rise further?
According to Madan Sabnavis, Chief Economist at Bank of Baroda, speaking to LiveMint, the recent hikes were “inevitable” given the losses being incurred by oil marketing companies (OMCs).
He also indicated that additional price increases may follow, as the current revisions may still not fully offset their financial burden.
Petrol and diesel prices in major Indian cities:
Delhi
Petrol: Rs 102.12 (+2.61)
Diesel: Rs 95.20 (+2.71)
Kolkata
Petrol: Rs 113.51 (+2.87)
Diesel: Rs 99.82 (+2.80)
Mumbai
Petrol: Rs 111.21 (+2.72)
Diesel: Rs 97.83 (+2.81)
Chennai
Petrol: Rs 107.77 (+2.46)
Diesel: Rs 99.55 (+2.57)
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