Lagatar24 Desk
New Delhi, Mar 26: Petrol and diesel prices were raised by 80 paise per litre today. This is the fourth increase in five days, as oil companies passed on the increase in raw material costs to customers.
According to a price statement from state fuel merchants, petrol in Delhi will now cost Rs. 98.61 per litre, up from Rs. 97.81 previously, while diesel rates will rise from Rs. 89.07 per litre to Rs. 89.87.
Since the end of a four-and-a-half-month delay in rate review on March 22, all four increases have been 80 paise per litre. Since the daily price revision began in June 2017, these hikes are the steepest single-day increases.
Petrol and diesel prices have risen by Rs. 3.20 per litre in four rises.
Prices had been steady since November 4 in anticipation of assembly elections in areas such as Uttar Pradesh and Punjab, during which time the cost of raw materials (crude oil) had risen by around USD 30 per barrel.
The fee hike was supposed to happen soon after the March 10 assembly elections, but it was postponed.
Oil companies, who failed to raise petrol and diesel prices for a record 137 days despite crude oil (the raw material used to make fuel) prices climbing to USD 117 per barrel from USD 82 in early November, are now gradually passing on the required rise to customers.
