Petrol and diesel prices hiked for the 7th time in 8 days, petrol crosses ₹100 per litre mark in Delhi

• Petrol and diesel prices have been increased by 80 paise and 70 paise per litre, respectively, which is the seventh hike in eight days.
• Petrol prices have crossed the ₹100 per litre mark in many cities.
• The fuel prices have seen a significant rise across the country, but the rate varies from state to state depending on the local taxation.

Petrol and diesel prices, on Tuesday, saw a hike again for the seventh time in eight days by 80 paise per litre and 70 paise per litre, respectively. Both petrol and diesel prices have so far increased by ₹4.80 per litre in the last one week.

The fuel prices have seen a significant rise across the entire country, but the rate varies from state to state depending on the local taxation.

These are the revised prices of petrol and diesel —

Source: Indian Oil and media reports

The petrol in Delhi will now cost you ₹100.21 per litre, an increase from ₹99.41 previously, while diesel rates have gone up from ₹90.77 per litre to ₹91.47.

Meanwhile, in Mumbai, petrol and diesel prices both were hiked by 85 paise and 75 paise respectively. However, in Chennai, the petrol rates have gone up to ₹105.94 and diesel prices have increased to ₹96 per litre.

This is the seventh hike in the last eight days after a four and a half months pause ahead of assembly elections in Punjab, Uttar Pradesh, Uttarakhand, Goa, and Uttarakhand.

State-run oil refiners like Hindustan Petroleum, Indian Oil, Bharat Petroleum are revising the fuel prices on a daily basis keeping in mind the rising crude oil prices in the international market.

According to a report by The Economic Times, crude oil has become at least 40% costlier than November last year and so the oil companies are now recouping the losses.

According to CRISIL Research, a hike of ₹15-20 per litre is required to fully pass the increase in international oil prices. “The pass-through of rising crude oil prices to domestic fuel prices is, therefore, inevitable, and further hikes can also be expected," rating firm CRISIL said in a statement.

India’s 85% of oil demand is dependent on imports, according to wire agency PTI.

SEE ALSO:
India might have more than 10 million apprentices in the next 5 years
Sleeping bitcoins are starting to wake up as whales move funds around