Petrol, Diesel Prices Hiked By 40 Paise, 12th Hike In 14 Days

Petrol and diesel prices offered little respite to consumers with prices across the country continuing to climb. Monday marked the 12th hike in prices in two weeks with prices for both fuels up by 40 paise in New Delhi. This was preceded by two consecutive hikes of 80 paise each over the weekend following a one day pause in price revisions on Friday, April 1. Prices for petrol and diesel in the national capital today stands at Rs. 103.81 and Rs. 95.07 per litre respectively. This brings the total hike in prices of both fuels to about Rs. 8.40 per litre in a two-week period.

India's financial capital meanwhile saw prices revised by 42 paise for petrol and 43 paise for diesel. The latest revision in prices brings the price of petrol ever closer to the Rs. 120 per litre mark in the city with the fuel retailing at Rs. 118.83 per litre. Diesel meanwhile retails at Rs. 103.07 per litre.

Onto Bangalore, the city is soon to see petrol cross the Rs. 110 per litre mark with Monday's prices sitting very close at Rs. 109.41 per litre. The price of diesel for the day stood at Rs. 93.23 per litre. In Chennai petrol retailed for Rs. 109.34 per litre on Monday morning with diesel prices (Rs. 99.42) set to cross the Rs. 100 per litre mark in the coming days. Coming to Kolkata petrol and diesel retailed for Rs. 113.45 and Rs. 98.22 per litre respectively.

Fuel prices have seen little respite in the country since daily revisions recommenced on March 22 with only 2 of the last 14 days witnessing no hike in prices. The current trajectory could see prices reach new record highs in cities across the country despite the downward revision to the rate of tax charged on both fuels by the central government and some states last year.