Industry Odisha Bureau, May 25: Prices of petrol and diesel were reportedly hiked yet again for the fourth time today across the country within a duration of two weeks, while today’s hike has been affected two days after the prices of petrol and diesel were reportedly revised upward to Rs 0.87 per litre for petrol and Rs 0.91 per litre for diesel on Saturday last week.
Following today’s price hike effected by the state-owned Oil Marketing Companies (OMCs), petrol and diesel prices were reportedly again raised by Rs 2.61 and 2.71 per litre respectively on Monday.
Thus, the petrol prices in the four Indian metro cities went up today as follows:
Delhi ₹102.12 (+2.61), Kolkata ₹113.51 (+2.87), Mumbai ₹111.21 (+2.72), and Chennai ₹107.77 (+2.46).
Similarly, the highspeed diesel prices in the four Indian metro cities went up today as follows: Delhi ₹95.20 (+2.71), Kolkata ₹99.82 (+2.80), Mumbai ₹97.83 (+2.81), and Chennai ₹99.55 (+2.57).
While the consecutive price hikes in petrol and diesel are reportedly being attributed to the mounting pressure on Indian OMCs triggered by the global crude oil price volatility as well as the unresolved West Asia conflict, transportation operators, businesses, daily commuters, general consumers and household expenses reportedly are bearing the brunt, especially, in the urban areas.
Experts apprehend that the consecutive hikes in the fuel prices would have a cascading effect on the Indian economy and spike up inflationary pressure on essential goods and services both in the urban and rural pockets across the country.
On the contrary, the Government of India defend the consecutive price hikes as has been necessitated to checkmate the soaring import costs of global crude oil as well as ensure stability in the fuel supplies.
