Fuel prices hiked for the 13th time in 15 days

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New Delhi: The fuel prices in India have hiked for the 13th time in 15 days. Price of petrol & diesel in Delhi at ₹104.61 per litre & ₹95.87 per litre respectively today (increased by 80 paise).

In Mumbai, the petrol & diesel prices per litre at ₹119.67 (increased by 84 paise) & ₹103.92 (increased by 85 paise).

This is the 13th hike in the last 15 days. These prices were revised for the very first time on March 22 after a gap of more than four months. The OMCs revised the transportation fuel cost based on various factors such as rupee to US dollar exchange rate, cost of crude oil and demand of fuel amongst others.

Resultantly, the final price includes excise duty, value added tax and dealer’s commission.

It was widely expected that the OMCs will revise the current prices due to high crude oil cost.

Lately, crude oil prices have been volatile on fears of tight supplies due to sanctions against Russia.

The crude oil price range is a cause of concern for India as it may ultimately add Rs 10-15 in petrol and diesel selling prices.

At present, India imports nearly 85 per cent of its crude oil requirements.

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