Petrol price hiked again, 5th hiked in 6 days

On Sunday, the price of petrol was increased by 50 paise per litre and the price of diesel was increased by 55 paise per litre, bringing the total increase in rates since the commencement of daily price revisions less than a week ago to Rs 3.70-3.75 per litre.

According to a price announcement from state fuel dealers, petrol will now cost Rs 99.11 per litre in Delhi, up from Rs 98.61 before, and diesel will cost Rs 90.42 per litre, up from Rs 89.87 previously.

Rates have been raised across the country, and they differ from state to state based on the amount of municipal taxation.

Petrol and diesel rates vary from state to state depending upon the incidence of local taxation. Petrol in Mumbai will now cost ₹113.88 per litre and diesel ₹98.13 per litre, an increase of 53 paise and 58 paise respectively.

The cost revision has taken the petrol price in Chennai to ₹104.90 per litre and diesel to ₹95.00 a litre. In Kolkata, the price of petrol per litre is ₹108.53 and diesel is ₹93.57.

On the previous four occasions, the fuel prices had been increased by 80 paise a litre, the steepest single-day rise since the daily price revision was introduced in June 2017.

Prices were stable for over four and a half months, a period during which election campaigns and polling were held in five states – Uttar Pradesh, Punjab, Uttarakhand, Goa, Manipur.

During the same period, the cost of crude oil soared by about USD 30 per barrel.

Congress has accused the BJP-led government of “profiteering” through a repeated increase in the prices of petrol and diesel. Congress leader Randeep Singh Surjewala told a media briefing that the Modi Government “has earned ₹26 lakh crore in eight years” by increasing excise duty on petrol and diesel.

“People of India have been betrayed, duped and deceived by government,” he alleged.