New Delhi: In a major blow to the consumers, prices of petrol and diesel have been hiked by 90 paise per litre on Tuesday.
This marks the second revision within a week when the prices of fuels were hiked by Rs 3.
After the latest price hike, the price of petrol rose to 98.64 per litre from 97.77 per litre earlier.
Diesel prices now stands at Rs 91.58 per litre from 90.67 per litre, according to the industry sources.
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In Delhi, petrol prices rose by 87 paise to Rs 98.64 per litre, while diesel increased by 91 paise to Rs 91.58 per litre.
In Kolkata, petrol now costs Rs 109.70 per litre after a 96-paise hike, while diesel climbed 94 paise to Rs 96.07 per litre.
Mumbai saw petrol prices rise by 91 paise to Rs 107.59 per litre and diesel by 94 paise to Rs 94.08 per litre.
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In Chennai, petrol prices were increased by 82 paise to Rs 104.49 per litre, while diesel rose by 86 paise to Rs 96.11 per litre.
The sudden rate revision in the petrol and diesel will significantly impact daily expenses of consumers and travelers across the country.
This second price rise shocker came days after Union Petroleum Minister Hardeep Singh Puri claimed that the country has no supply side problems.
"Let me tell you categorically, we have no supply side problems. The country has more than enough stocks of crude oil, LNG and LPG, Puri said speaking at the CII Annual Business Summit in the national capital.
Despite the assurances from the government, the social media is still abuzz of the possible price rise in the petrol and diesel. Experts and economists believe that the consumers will see the price of fuel rising by about Rs 10.
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The anticipations take strength as Puri expressed a deep concern on the losses incurred by Oil Marketing Companies (OMCs). He revealed that OMCs are losing nearly Rs 1,000 crore every day, giving a support to the anticipations of the price rise.
“If you look at the fiscal situation, if you look at the fact that my oil companies are losing Rs 1,000 crores every day, the under recovery is going to be Rs 1,98,000 crores. The losses are Rs 1 lakh crore, if you look at the quarter. In that context, how long can you keep it like this? Where is the oil? It used to be around USD 64 or USD 65. It has gone up to USD 115 in that basket,” Puri had said during the CII's event.
Ends.
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