Petrol, Diesel prices increase again in India, 7th hike in eight days

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India on Tuesday registered the seventh hike in fuel prices in eight days. The petrol prices were hiked by 80 paise per litre on Tuesday taking the total hike to Rs 4.80.

With the fresh hike, petrol and diesel prices in Delhi rose to Rs 100.21 per litre and Rs 91.47 per litre respectively. In India’s financial capital Mumbai, the petrol price stood at Rs 115.04 per litre, whereas the per liter cost for diesel rose to Rs 99.25 per litre.

In Chennai, one litre of petrol will now cost Rs 105.94 and a litre of diesel will cost Rs 96. In Kolkata, it’s Rs 109.68 per litre for petrol and Rs 94.62 per litre for diesel.

The fuel prices were hiked by 30 paise on Monday too.

Prices were stable for over four and a half months, a period during which election campaigns and polling were held in five states – Uttar Pradesh, Punjab, Uttarakhand, Goa, Manipur.

Meanwhile, Congress leaders have been accusing the BJP-led government of ‘tax-gouging’ and ‘profiteering’ over the fuel price surge, reports said.

Congress leader Randeep Singh Surjewala recently told a media briefing that the BJP-led government ‘has earned Rs 26 lakh crore in eight years’ by increasing excise duty on petrol and diesel.

A three-phased campaign, ‘Mehngai-mukt Bharat Abhiyaan’, has also been announced by the Congress against price rise under which it will organise rallies and marches across the country between March 31 and April 7.

India is 85 per cent dependent on imports for meeting its oil needs, according to a report by news agency PTI.

Russia’s Ukraine invasion and escalating sanctions have hampered the oil flows across the globe. Brent crude, which hit an all-time high in the previous weeks, hovered around $108.83 per barrel on Tuesday as per reports.


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