Gasoline and diesel prices rose for the fourth time this week in five days. The price of both fuels has now increased by more than ₹3 per liter since the most recent surge began.
Petrol and diesel prices rose for the second day in a row today, bringing prices of both fuels to new highs. It was the second increase in gasoline and diesel prices in a row in five days after oil companies offered a respite for the day on Thursday. Companies raised gasoline and diesel prices by 80 times on Saturday, bringing the overall increase over the past five days to more than ₹3 per liter.
According to the latest increase, petrol price in Delhi today stands at ₹98.61 per liter while diesel will cost ₹89.87 a liter after an increase of 80 paise liters. Gasoline prices in Mumbai today increased by 84 paise/litre, bringing the overall price up ₹113.35. The price of diesel in Mumbai has increased by 85 paise/liter and will now cost ₹97.55 per liter. In Kolkata, the price of petrol has increased today ₹108.02 while diesel prices are at ₹93.01 per liter. In Chennai, gas prices have been increased ₹104.43 a liter and diesel prices at ₹94.49 per liter.
Gasoline and diesel prices have increased 4 times in 5 days of the week. It started on March 22, when gasoline and diesel prices across the country were raised by 80 paise per liter. The price hike continued the next day, increasing the prices of both fuels by a similar margin. Although Thursday was a respite, the upward momentum continued on Friday with an 80 paise/liter increase.
The latest petrol and diesel price hikes are the biggest one-day price hike since a daily price adjustment began in June 2017. The four most recent fuel price hikes have all had gains of both gasoline and diesel by ₹3.20 per liter.
On March 22, oil companies ended 137 days off from the daily price adjustment. Gasoline and diesel prices have been frozen since November 4 last year, just before council elections in five states, including Uttar Pradesh and Punjab, were announced. The adjustment of gasoline and diesel prices will continue immediately after the parliamentary elections ended on March 10.
Date of first publication: March 26, 2022, 07:25 AM IST