Petrol, diesel prices hiked for the second consecutive day

After providing relief to consumers for close to six weeks in a row, oil companies have once again started increasing the price of petrol and diesel across the country. After its first hike since March yesterday, the price of petrol and diesel saw yet another hike today.

The second hike is bigger than the first one on Tuesday. On Wednesday, oil companies increased price of a litre petrol by 19 paise, while the price of diesel went up by 21 paise for every litre. On Tuesday, petrol and diesel prices were increased by 15 paise and 18 paise per litre.

With the latest hikes, petrol will now cost ₹90.74 per litre in the national capital. The price of diesel will now be ₹81.12 per litre. Similarly, in Mumbai, a litre of petrol will now cost 97.12 per litre and diesel will cost ₹88.19 per litre. Chennai will have to pay ₹92.70 for a litre of petrol and ₹86.09 for diesel, while in Kolkata the price has been revised to ₹90.92 per litre for petrol and ₹83.98 per litre for diesel.

This is the second consecutive day of fuel price hike in India. The fuel price revision was put on hold by oil companies for about 18 days before the first hike yesterday. The last price revision had happened on April 15, when the price of petrol and diesel were reduced by 14 paise and 16 paise per litre respectively.

In fact, since March 24 this year, the price of petrol had seen a reduction of 77 paise per litre and diesel by 74 paise per litre.

The reduction in fuel prices came after a spate of hikes since the beginning of the year. Since January, fuel prices had shot up to record level thanks to as many as 26 hikes. These hikes had shot up petrol price by ₹7.46 per litre and diesel price by ₹7.60 a litre.