Petrol crosses ₹100-mark in Delhi after seventh hike in 8 days. Check rates
With fresh hike in fuel prices across the country on Tuesday, price of petrol has crossed ₹100 a litre mark in Delhi after being increased by 80 paise a litre. Price of diesel has been shot up by 70 paise a litre across the country, taking the total increase in fuel rates in one week to ₹4.80 per litre.
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Petrol in Delhi will now cost ₹100.21 per litre as against ₹99.41 previously while diesel rates have gone up from ₹90.77 per litre to ₹91.47, as per a price notification issued by state fuel retailers.
The hike on Tuesday comes following the price surge on Monday when petrol and diesel prices were increased by 30 paise per litre on petrol and 35 paise per litre on diesel, which took the total hike in rates since the resumption of daily price revision to ₹four per litre.
This is the seventh increase in prices of motor fuels since a four-and-half-month long hiatus in fuel rate revision ended on March 22. On the first four occasions, prices were increased by 80 paise a litre, marking the steepest single-day rise since the daily price revision was introduced in June 2017. On the following days, price of petrol went up by 50 paise and 30 paise a litre while that of diesel was increased by 55 paise and 35 paise a litre.
The price of petrol and diesel are closely related to the crude oil price in the international market, which has been experiencing a massive fluctuation in the last few weeks due to the ongoing war between Russia and Ukraine. As India imports 85 per cent of i6ts energy needs from the international market, a slight fluctuation in prices of crude oil in the international market impacts the petrol and diesel costs in the country. Experts suggest that the price of petrol and diesel will continue to surge in the Indian market in small doses.
(with inputs from PTI)