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India sees 3rd hike in petrol, diesel prices in a week. Check updates here

The petrol and diesel prices witnessed one other 80-paise hike per litre on Friday, third enhance in 4 days. Petrol and diesel have seen an general enhance of 2.4 per litre after months-long hiatus as India’s prime gasoline retailers stored gasoline prices on maintain throughout elections in 5 states.

After the third hike, petrol and diesel are being bought in Delhi at 97.81 per litre and 89.07 per litre, respectively.

In Mumbai, the petrol and diesel prices per litre are at 112.51 and 96.70, a rise of 84 paise and 85 paise respectively.

Chennai noticed a 76-paise enhance in retail gasoline prices, taking the price of petrol and diesel at 103.67 and 93.71. In Kolkata, the worth of petrol is at 106.34 (elevated by 84 paise) and diesel is 91.42 (elevated by 80 paise).

In a sarcastic comment, Leader of Opposition in the Rajya Sabha Mallikharjun Kharge known as for rising the gasoline prices in one go as a substitute of mountain climbing it in components.

“They are increasing prices by 80 paise, sometimes by Re 1. If they (Centre) want to increase the price, then increase it in one go. Be it 10, 15 and 20,” ANI quoted the Congress chief as saying.

“They are troubling the people by increasing the prices like this. They are playing with the lives of the common man.”

On Thursday, Moody’s Investors Services mentioned that state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation (HPCL) collectively lost round 19,000 crore in income for conserving the prices on maintain.

“Based on current market prices, the oil marketing companies are currently incurring a revenue loss of around USD 25 (over 1,900) per barrel and USD 24 per barrel on sale of petrol and diesel, respectively,” Moody’s mentioned in a report.

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