Petrol, diesel prices have increased to the record high on Sunday. This time the rates are highest since 2013. Petrol price in Delhi has hiked from Rs. 76.06 per liter to Rs. 76.24, Diesel rates are Rs. 67.57 a litre. This is an absolute hike in diesel and petrol prices.
Altogether, petrol price has been hiked by Rs. 1.61 a litre and diesel by Rs. 1.64 past one week. Oil PSUs didn’t change the rates for about three weeks before Karnataka elections, notwithstanding input cost spiking. Today is the seventh day of price hike since oil PSUs restarted daily price revision since May 14.
Petrol price in Mumbai is Rs 84.07 per litre, the costliest due to high local taxes and the cheapest is in Panjim where a litre costs Rs. 70.26. Diesel is the dearest in Hyderabad at Rs. 73.45 per litre whereas Port Blair is the cheapest place for diesel at Rs. 63.35. per litre.
Oil PSUs have been altering auto fuel prices daily since last June to consider the changes in the cost. In June 2010, the government freed petrol price from its control and the diesel prices were removed from government regulations in October 2014.
Since then the prices have moved more or less in conjunction with global rates except for some situations like the period before polls take place.