On Friday, fuel prices have hiked after two days by state-run oil marketing companies. The new hike in the price of petrol comes even after a drop in global crude oil prices. Petrol price has gone up by 19 paise and diesel has hike by 29 paise. Now, the petrol price in Delhi costs Rs 93.04 per liter whereas diesel price is recorded to Rs 83.80.
However, the petrol price in Mumbai is nearly Rs 100 per liter and the price of per liter diesel has crossed Rs 91 per liter. The price of petrol has already crossed Rs 100 per liter in some districts of Rajasthan, Madhya Pradesh, and Maharashtra.
Petrol And Diesel Are Retailing At Higher Rates Across Major Indian Cities
Petrol and diesel have retailed at record high rates across the country. These both essential fuels have increased by over Rs 2 per liter by state-run oil marketing companies in May 2021. It has people as diesel and petrol in India are already higher because of taxes levied on them.
The increase in the price of high fuel prices can trigger inflation. Also, it affects the demand in the near-to-medium term. All these factors ultimately affect the country’s economic recovery.