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

Petrol and diesel prices have been increased once again on Wednesday. This is the 14th hike in the last 16 days. Overall, the price of petrol and dies
Petrol and diesel prices have been increased for the 14th time in the last 16 days. (PTI)
Petrol and diesel prices have been increased for the 14th time in the last 16 days.

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.

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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.

Also Read : What is driving petrol, diesel and CNG costs higher

"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.

First Published Date: 06 Apr 2022, 08:46 AM IST

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