New Delhi: Prices of petrol and diesel were on Wednesday hiked again for the third consecutive day, as petrol price cross Rs 75 in the national capital while diesel was retailing at Rs 66.57. According to the website of Indian Oil Corporation Limited (IOCL), petrol was retailing at Rs 75.10 after an increase of 15 paise. On the other hand, the price of diesel was increased by 21 paise.
It may be noted that the gradual increase in prices of diesel and petrol were resumed after polling in Karnataka. While today is the third consecutive day when prices of essential fuels were increased, there was no increase in the rates for a few weeks since April 24. As per IOCL’s website, the price of petrol was at Rs 77.79 in Kolkata; Rs 82.94 in Mumbai; Rs 77.93 in Chennai and Rs 76.31 in Bengaluru.
On the other hand, diesel was retailing at Rs 69.11 in Kolkata; Rs 70.88 in Mumbai, Rs 70.25 in Chennai and Rs 67.71 in Bengaluru. The constant price rise after a period of lull is shaping up to be a serious concern for millions of commuters and industries. Despite several uproars from opposition political parties, the government at the centre has not yet commented on the issue.
However, oil PSUs have no option but to increase the rates considering the rising price of crude oil globally. Adding to the woes, the government has also denied reducing excise duty prices, thus taking a bigger hit on the public.
It should be noted that the prices of petrol and diesel have already breached multi-year highs and soon petrol will reach its highest-ever level if the trends continue to remain unchanged. Diesel, on the other hand, has already retailing at its highest-ever price in India.