Petrol and diesel prices witnessed the steepest single-day hike in several months on Saturday after the state-owned oil marketing companies (OMCs) hiked the price of petrol by record 39 paise per litre and diesel by 37 paise a litre.
With this increase, petrol is now priced at Rs 90.58 and diesel Rs 80.97 per litre(s) in Delhi.
After Saturday’s rate revision, petrol price in Dimapur increased to Rs.93.01 per litre and price of diesel rose to Rs.83.92 per litre. Likewise, in the state capital Kohima, petrol and diesel prices soared to Rs.93.93 per litre and Rs.84.65 per litre respectively. This the 12th straight day of price hike and the largest daily increase since oil companies started to revise rates on a daily basis in 2017. According to PTI report, the increase follows a spurt in oil prices in the international market, on which India is dependent to meet its 85 % of the needs. Brent oil crossed $ 65 a barrel this week as a worsening U.S. energy crisis took out almost 40 % of the nation’s crude production.
In 12 days, retail petrol prices have risen by Rs.3.63 a litre, a record since the pricing was deregulated in 2010, and diesel rates have gone up by Rs.3.84. Petrol price has already surged past the Rs.100-mark in some places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel.