Petrol, Diesel Dearer By Almost Rs 3; Prices Hiked For Fourth Time In 11 Days

Petrol and diesel prices across the country have once again been hiked. This marked the fourth price hike in two weeks, since fuel prices were first revised at petrol pumps across the country on May 15 after a near half-decade pause. Prices of petrol and diesel were hiked by up to Rs 2.71 per litre in the national capital, with other metros witnessing price increases of up to Rs 2.87 per litre.

Also read: Maruti Suzuki To Unveil Flex-Fuel Vehicle On June 5: Nitin Gadkari

The cumulative hike in petrol and diesel prices currently stands around Rs 7.5 per litre over the past 2 weeks. Prices on May 15 were hiked by around Rs 3 per litre, with smaller subsequent hikes following on May 19 and May 23.

Petrol Prices

Monday morning saw prices of petrol climb over the Rs 100 mark in the national capital, rising from Rs 99.51 to Rs 102.12 per litre – a hike of Rs 2.61. The price at the pump in Mumbai meanwhile rose to Rs 111.21 per litre – a hike of roughly Rs 2.72 per litre. Prices in Chennai and Kolkata meanwhile stood at Rs 107.77 (up by Rs 2.46) and Rs 113.51 (up by Rs 2.87) per litre respectively.

Also read: Petrol, Diesel More Expensive By Up To Rs 3

Diesel Prices

Diesel prices meanwhile stood at Rs 95.20 per litre in the national capital on Monday morning – a hike of Rs 2.71 per litre. Price in Mumbai meanwhile edged up by Rs 2.81 pr litre to Rs 97.83 while in Kolkata the price now stood just under the Rs 100 mark at Rs 99.82 per litre (up by Rs 2.80). The price in Chennai stands at Rs 99.55 per litre (up by Rs 2.57).

Reports suggest that the price hikes are likely to be far from over, with Oil Manufacturing Companies still expected to report daily losses even at the newly hiked prices as crude oil prices remain high following the standoff in the Middle East.