Petrol, diesel prices today hiked by 80 paise per litre. Check new rates

Petrol and diesel prices today have been hiked once again by 80 paise per litre. On Wednesday, the oil companies increased the prices across India for the 14th time in the last 16 days since daily price revision of fuel rates resumed on March 22. During this period, the cost of petrol and diesel have gone up by ₹10 per litre.

After Wednesday's hike, petrol price in Delhi today has reached ₹105.41 per litre. Diesel price in Delhi today stands at ₹96.67 per litre. In Mumbai, petrol price has been increased to ₹120.51 per litre after an increase of 84 paise. Diesel price in Mumbai has also been hiked by 85 paise and will now cost ₹104.77 per litre. Petrol price in Chennai has also received similar hike and increased to ₹110.95 per litre, while diesel will cost ₹101.04 per litre after 85 paise hike. In Kolkata, petrol price today stands at ₹115.12 per litre and diesel has become dearer by 81 paise per litre to cost ₹99.83.

Oil companies had put a halt to daily price revision of petrol and diesel since November 4 last year. Before that the Centre had reduced excise duty by ₹5 per litre on petrol and ₹10 per litre on diesel to bring down the prices across the country. Several state governments too had reduced Value-Added Tax (VAT) on petrol and diesel to provide further relief. However, with ₹10 hike in last 16 days, the benefit is all but wiped out as fuel prices are back at an all-time high.

On Tuesday, Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, defended the recent fuel price hikes by saying that India has merely seen a change of "only 5 per cent" compared to other countries.

"Fuel prices hiked in India are 1/10th of the change of prices in other countries. Comparing gasoline (petrol) prices between April 2021 and March 2022, the prices in the United States of America (USA) have increased by 51 per cent, Canada by 52 per cent, Germany by 55 per cent, the United Kingdom (UK) by 55 per cent, France by 50 per cent, Spain 58 per cent but in India only 5 per cent," Puri said in Lok Sabha on Tuesday.

The recent hikes have not only impacted petrol and diesel prices, but that of CNG too. On Wednesday, CNG prices were also hiked for the third time this month. The increase in fuel prices is likely to continue in coming days depending on international crude oil prices.

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