Fuel prices hiked again, cost of petrol has gone up by Rs 6 in a week

Representational image
Representational image.

The retail selling prices of petrol and diesel has increased for the eighth time in nine days on Wednesday. A litre of petrol costs 88 paisa more while diesel price rose 84 paisa/litre on Wednesday.

In a week, the price of a litre of petrol has increased by Rs 6.10 and that of diesel has gone up by Rs 5.86.

On Wednesday, a litre of petrol costs Rs 112.40 in Thiruvananthapuram, Rs 110.41 in Ernakulam, and Rs 110.58 in Kozhikode.

While a litre of diesel costs Rs 99.31 in the state capital on Wednesday, inching closer to a century again, it costs Rs 97.45 and Rs 97.63 in Ernakulam and Kozhikode respectively.

The prices were revised for the very first time last Tuesday after a gap of more than four months.

Lately, crude oil prices have been volatile on fears of tight supplies due to sanctions against Russia.

The crude oil price range is a cause of concern for India as it may ultimately add Rs 10-15 to petrol and diesel selling prices.

At present, India imports nearly 85 per cent of its crude oil requirements.

Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.

Petrol in Delhi will now cost Rs 101.01 per litre as against Rs 100.21 previously while diesel rates have gone up from Rs 91.47 per litre to Rs 92.27 according to a price notification of state fuel retailers.

(With agency inputs)

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