New Delhi: Petrol and diesel prices on Wednesday were hiked by 80 paise a litre each for the second day in a row since the ending of an over four-and-half month hiatus in rate revision.
Petrol in Delhi will now cost Rs 97.01 per litre as against Rs 96.21 previously while diesel rate has gone up from Rs 87.47 per litre to Rs 88.27, according to a price notification of state fuel retailers.
A record 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates. Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab - a period during which the cost of raw material (crude oil) soared by USD 30 per barrel.
Oil companies are now recouping the losses.
According to CRISIL Research, a hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices.
India is 85 per cent dependent on imports to meet its oil needs.
Rajya Sabha adjourned till noon as opposition protest fuel price hike
Rajya Sabha proceedings were adjourned for little less than an hour on Wednesday as opposition parties led by the Congress created a ruckus when their demand for a discussion on the hike in fuel and other commodity prices was disallowed.
Congress, Left and Samajwadi Party leaders wanted their notices admitted under rule 267, requiring setting aside of the listed business of the day to take up the issue of rise in prices of petrol, diesel, cooking gas LPG, kerosene and other essential commodities like pulses and edible oils.
Chairman M Venkaiah Naidu disallowed the notices, saying the issue can be taken up during a discussion on demands for grants.
This infuriated the opposition MPs who shouted slogans.
Naidu asked MPs to allow zero hour. With opposition MPs unrelenting, he adjourned the proceedings till 12 noon.
Congress MPs from both houses of Parliament protested outside the Gandhi statue in the Parliament House complex against the price hike in petrol, diesel and LPG gas.
Congress chief spokesperson Randeep Surjewala said, "'Loot People Plan' continues! Petrol Diesel Prices hiked by 80 Paisa, Rs 1.60/litre in 2 days."
"Best time to loot farmers is harvesting season. Looting Middle Class-Salaried is their divine right. Dare not protest or They'll show u a film or Hide it behind religion-caste," Surjewala said on Twitter.
