Petrol, diesel prices hiked again

Petrol, diesel prices hiked again
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New Delhi: Petrol price on Thursday was hiked by 35 paise per litre and diesel by 15 paise, pushing rates to a new high across the country.

Petrol in Delhi now costs Rs 101.54 a litre and diesel Rs 89.87 per litre, according to a price notification of state-owned fuel retailers.

The increase comes after rates stayed mute for three days. Petrol price was last hiked on July 12, on a day when diesel rates had seen its first reduction in almost three months.

The increase on Thursday neutralised the 16 paise price cut in diesel on July 12. Prior to that, petrol and diesel prices were last cut on April 15.

Thereafter, rate revision took an 18-day pause, coinciding with the peak of electioneering to elect a new government in states like West Bengal.

The revision cycle started soon after results for the state elections were declared. Since May 4, petrol price has been hiked on 40 occasions while diesel rates have gone up 37 times and have been reduced on one occasion.

Domestic fuel rates are benchmarked to international oil prices as India is 85 per cent dependent on imports to meet its oil needs. International rates have surged since last month on a rebound in consumption. The relentless price increase has pushed petrol rates above the Rs 100-a-litre mark in most places in 15 states including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Odisha, Tamil Nadu, Kerala, Bihar and Punjab and at a couple of districts in Uttar Pradesh and Haryana.

Rates are also above the sensitive Rs 100 per litre level in four Union Territories including Delhi, Jammu and Kashmir and Ladakh.

Diesel, the most used fuel in the country, is above that level in some places in Rajasthan, Odisha and Madhya Pradesh.

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