Lagatar24 Desk
New Delhi, April 5: Petrol and diesel rates increased by 80 paise each on Tuesday, marking the thirteenth price increase in fifteen days.
The entire increase in fuel prices currently stands at Rs 9.20 per litre.
In Delhi, a litre of petrol costs Rs 104.61 and a litre of diesel costs Rs 95.87. Meanwhile, in Mumbai, petrol costs Rs 119.67 a litre, up 84 paise, while diesel costs Rs 103.92, up 85 paise.
Yesterday, the price of CNG was raised by Rs 2.5 per kilogramme. CNG now costs Rs 64.11 per kilogramme in the national capital, thanks to the higher price.
The surge in costs has also sparked political outrage, with the opposition conducting protests and demanding a reduction in fuel rates.
Following the rise in crude oil prices in the aftermath of Russian military actions in Ukraine, there had been a delay in fuel price revisions since November 4 last year, which ended on March 22. Given the substantial rise in crude oil prices on international markets, prices are expected to rise even further. It will have a cascade effect on the prices of other things, causing inflationary pressure and slowing GDP.
Meanwhile, the Congress is organising a statewide protest campaign against price hikes called ‘Mehngai Mukt Bharat Abhiyan,’ in which it will stage rallies and marches across the country from March 31 to April 7.
On November 3 of last year, the Centre lowered excise tax on petrol by Rs 5 per litre and diesel by Rs 10 per litre to lower retail prices across the country. As a result, numerous state governments decreased the value-added tax (VAT) on gasoline and diesel to help consumers.
