Fuel Prices Hike: Petrol and Diesel prices in India have hiked on Friday to fresh record highs as state-run oil marketing companies (OMCs) made a revision in their rates after one-day hiatus.
Petrol and diesel prices in India have been revised upwards by 28-29 paise. Following the fresh hike in fuel prices, petrol is being sold at Rs 95.85 per litre in Delhi while diesel costs at Rs 86.75 per litre.
|City||Petrol (per litre)||Diesel (per litre)|
In Mumbai, the petrol price breached Rs 102 per litre while diesel is being sold at Rs 94 per litre. In other major cities, petrol and diesel rates are retailing at prices never seen before in the country.
The latest hike has been so severe that the highest retail price of petrol in India has gone up to Rs 106 per litre while diesel is over Rs 99 per litre.
According to the data, India’s oil demand has sharply fallen due to the situation prevailing out of the coronavirus pandemic, but the higher fuel prices may worsen the situation.
The experts say that rising prices have forced people to limit fuel purchases. There is evidence to suggest that low-income earners who depend on fuel prices have been severely impacted.
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