Petrol and diesel prices are steadily rising. A hike of 60 Paisa per litre each was recently recorded. This was the fifth straight daily increase in the prices of these fuels. public sector units dealing in oil ended an 82 day pause in terms of rate devision. An oil company official said in a statement that the daily price revision has restarted in the sector. Earlier, The oil public sector units have revised the aviation turbine fuel and LPG prices on a regular basis. However, since 16th of March these prices kept on hold. Majorly due to extreme volatility in the global oil demand and supply. The prices were stabilized when the Narendra Modi LED BJP government increased the excise duty on both fuels buy rupees 3 per litre. The government took the step to gain from falling international rates.
Delhi saw the rise in petrol prices from rupees 73.40 to rupees 74 per litre. On Wednesday, the petrol prices had climbed up up by 40 paise. On the other hand, diesel hiked 2 rupees 72.22 per litre from earlier rupees 71.62 for the same quantity. This rise marks the fifth daily increase in rates in a series. Petrol and diesel price has risen up by Rs.2.74 and Rs. 2.83 respectively in these last five hikes.
The prices have not been increased just in Delhi but all across the country. However, the rates depend upon the the local sales tax aur VAT which is different in every state.