Petrol and diesel prices have been raised for the straight ninth day across the country, just days after the government promised a solution. These nine hikes come after a 19-day hiatus when prices were kept unchanged for the May 12 Karnataka election. Petrol prices have been increased by Rs. 2.24/ litre in Delhi, Rs. 2.21/ litre in Kolkata, Rs. 2.22 in Mumbai and Rs. 2.36 a litre in Chennai over the past nine days, data from Indian Oil Corporation Limited shows. While the Diesel prices have been raised by Rs. 2.15 a litre, Rs. 2, Rs. 2.28 and Rs. 2.31 in the four cities. With effect from 6 am, Tuesday, one-litre petrol cost was recorded at Rs. 76.87 in Delhi, Rs. 79.53 in Kolkata, Rs. 84.7 in Mumbai and Rs. 79.79 in Chennai, according to Indian Oil. While Diesel was sold at Rs. 70.63 per litre in Kolkata, Rs. 68.08/ litre in Delhi, Rs. 71.87 per litre in Chennai and Rs. 72.48 per litre in Mumbai. In this year so far, petrol prices have risen up in the range of Rs. 6.81-7.26 per litre across the four metros cities, while an increase in diesel prices has been in the air of Rs. 8.33-9.21 per litre in the wake of rising global crude prices.
Prices of non-branded Diesel in metro-cities (Rs./Litre)
Karnataka Election 2018 twist and turn impact have been recorded in petrol price. People are expecting petrol price to reach up to Rs 85 per litre in Mumbai. With the rise showing no signs of abating, Oil Minister Dharmendra Pradhan today explained the rise in fuel prices, said it was caused due to the reduction in the production of oil in (OPEC) Organisation of Petroleum Exporting Countries and hike in crude oil price in the international market. Brent crude has been shoot up to near $79 per barrel in this year so far. Retail prices have shot up to record highs, but the Narendra Modi Government has ruled out the possibility to reduce the excise duty.