Petrol and diesel prices hiked third time in 8 days
Prices of petrol and diesel were raised for the third time in eight days on Saturday, this time by an average of 90 paise per litre across all variants. The price of compressed natural gas (CNG) in several parts of North India also rose for the third time within the same interval, this time by ₹1 a kg.Since the first round of hikes on May 15, the prices of diesel and petrol have cumulatively increased by approximately ₹4.8 per litre each in three tranches across the country.
CNG prices have also risen cumulatively by ₹4 a kg in several cities of North India during the same period. With the latest hike, the price of petrol in Delhi rose by 87 paise to ₹99.51 per litre, and that of diesel by 91 paise to ₹92.49 per litre. CNG in the National Capital Territory (NCT) of Delhi is now priced at ₹81.09 per kg. The hikes follow increased pressure on oil marketing companies (OMCs) due to rising crude oil prices, as energy supplies continue to be disrupted because of the conflict in West Asia.
India’s crude oil basket averaged $107.96 per barrel in May until Friday.
Further, the benchmark Brent crude futures (July) settled about 0.69% higher at $104.25 for every barrel on Friday.
On Saturday, Kolkata woke up to a comparatively steeper hike compared to other metros. The price of petrol in Kolkata rose by 94 paise to ₹110.64 per litre, while diesel became 95 paise more expensive at ₹97.02 per litre. In Mumbai, petrol prices increased by 90 paise to ₹108.49 per litre, while diesel rose by 94 paise to ₹95.02 per litre. Prices of petrol in Chennai rose by 82 paise to ₹105.31 per litre, while diesel became 87 paise costlier at ₹96.98 per litre.
With the latest ₹1 per kg hike, CNG in Uttar Pradesh’s Ghaziabad and Noida is now priced at ₹89.70 per kg, and in Meerut it costs ₹89.58 per kg.
Indraprastha Gas Limited, which is North India’s largest city gas distributor, in a social media post said, “The revision in retail prices of CNG has been effected only to marginally offset the impact of increase in input gas cost along with steep appreciation of U.S.D.”
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