Fuel Rates Hiked Again After a Day’s Gap

The prices of petrol and diesel were hiked once again on Saturday (April 2) after a day’s gap. The fuel rates have been increased by 80 paisa, according to a notification by the state-owned oil marketing companies.

As per the Oil Marketing Companies, the price of petrol in Delhi now costs Rs. 102.61 while petrol in Mumbai costs Rs. 117.57 after the hike.

In Guwahati, the price of petrol costs Rs. 102.57 and diesel costs Rs. 88.46 after the fresh hike.

In the last 12 days, India's fuel and diesel prices have been raised a total of ten times. In the previous 12 days, the price of petrol has risen by Rs 7.20.

Petrol and diesel prices have risen in five states since the Assembly election results, owing to ongoing tensions between Russia and Ukraine, which have pushed crude oil prices to a seven-year high. Since November 4 last year, when the Centre slashed the excise duty on petrol and diesel by Rs 5 to provide some comfort to the average man, fuel prices have been frozen.

Crude oil fell on Friday as the International Energy Agency (IEA) decided to participate in the largest-ever release of US oil reserves. After U.S. President Joe Biden announced the release on Thursday, both Brent and US crude benchmarks fell nearly 13%, their worst weekly drops in two years.

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