Besides the petrol, diesel and LPG prices, compounding the woes for manufacturers and consumers alike is the sharp hike in prices of natural gas starting April 1 for a period of six months
This is the ninth increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.
Freight rates on grand trunk routes have already shot up by an average 3%-4% month-on-month in the last few days, according to Indian Foundation of Transport Research & Training
The rates of petrol and diesel in Delhi increased by 80 paise a litre, while in Mumbai, fuel became costlier by 84 paise on Thursday
Petrol and diesel prices were on Wednesday hiked by 80 paise a litre each, taking the total increase in rates in the last nine days to Rs 5.60 per litre.
Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs 100.21 per litre as against Rs 99.41 previously while diesel rates have gone up from Rs 90.77 per litre to Rs 91.47, according to a price notification of state fuel retailers. Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation. This is the seventh increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22. On the first four occasions, prices were increased by 80 paise a litre - the steepest single-day rise since the daily price revision was introduced in June 2017. On the following days, petrol price went up by 50 paise and 30 paise a litre while diesel rose by 55 paise and 35 paise a litre. In all, petrol and diesel prices have gone up by Rs 4.8
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Petrol price on Monday was hiked by 30 paise a litre and diesel by 35 paise, taking the total increase in rates in the last one week to Rs 4-4.10 per litre
Petrol is selling in the national capital at Rs 98.61 per litre while diesel is trading at Rs 89.87 per litre
Nitin Gadkari justified the hikes in fuel prices, thrice in the last four days, saying the oil prices had gone up within the international market owing to the ongoing Russia-Ukraine war
In Mumbai, the rate of petrol increased by 84 paise today, selling at Rs 112.51 per litre
The move will affect more than 72 lakh domestic households.
Petrol and diesel are costliest in Mumbai at Rs 111.67 and Rs 95.85 a litre, respectively.
Petrol and diesel prices on Wednesday were hiked by 80 paise a litre each for the second day in a row since the ending of an over four-and-half month hiatus in rate revision. Petrol in Delhi will now cost Rs 97.01 per litre as against Rs 96.21 previously while diesel rate has gone up from Rs 87.47 per litre to Rs 88.27, according to a price notification of state fuel retailers. A record 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates. Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab - a period during which the cost of raw material (crude oil) soared by USD 30 per barrel. Oil companies are now recouping the losses. According to CRISIL Research, a hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices. India is 85 per cent dependent on imports to meet its oil needs.
Up 80 paise a litre; domestic gas cylinder now dearer by Rs 50
EV sales in India rose 162 per cent in the last year, said MoRTH last week, citing the latest available data.
Petrol and diesel prices were hiked by 80 paise a litre each while domestic cooking gas prices were increased by Rs 50 per cylinder, sources said.
India's auto fuel sales surged past pre-pandemic levels in the first half of March as consumers and dealers topped tanks in anticipation of a likely price hike post assembly elections. Petrol sales by state-owned fuel retailers, which control roughly 90 per cent of the market, at 1.23 million tonnes during March 1-15 were nearly 18 per cent higher than the same period last year and 24.4 per cent higher than the period in 2019, preliminary industry data showed. Diesel, mostly-used fuel in the country, saw sales jumping 23.7 per cent year-on-year to 3.53 million tonnes. This was 17.3 per cent higher than sales in March 1-15, 2019. While petrol sales were 24.3 per cent higher than the sales during March 1-15, 2020, diesel sales were up 33.5 per cent over the same reference period. Month-on-month, petrol sales were up 18.8 per cent and diesel sales surged 32.8 per cent. Oil Minister Hardeep Singh Puri had on Monday stated that fuel sales had jumped 20 per cent on comments exhorting pe
Oil Minister Hardeep Singh Puri on Monday slammed Congress leader Rahul Gandhi for his comments asking consumers to tank up in preparation for an imminent hike in petrol and diesel prices
It is widely expected that the OMCs will revise the current prices on or after March 7, which is the last day of voting in the ongoing state assembly elections