Fuel Hike Continues, 8th Rise in 9 Days. Total Increase Stands At Rs 5.60.

Petrol and diesel prices were again hiked on Wednesday, by 80 paise per litre each with a total increase of Rs 5.60 in the last nine days.

Petrol in Delhi will now cost Rs 101.01 per litre as against Rs 100.21 previously while diesel rates have gone up from Rs 91.47 per litre to Rs 92.27 according to a price notification of state fuel retailers.

Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.

This is the ninth increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.

On the first four occasions, prices were increased by 80 paise a litre – the steepest single-day rise since the daily price revision was introduced in June 2017. On the following days, petrol price went up by 50 paise and 30 paise a litre while diesel rose by 55 paise and 35 paise a litre.

Petrol price was on Tuesday hiked by 80 paise a litre and diesel by 70 paise.

In all, petrol and diesel rices have gone up by Rs 5.60 per litre each.

Prices are set to be raised further given the sharp jump in crude oil prices in the international markets. It will have a cascading impact on the prices of other items and lead to inflationary pressure and hurt growth. It will have a cascading effect on the prices of other items.

Notably, on November 3 last year the Centre had cut excise duty by Rs 5 per litre on petrol and Rs 10 per litre on diesel to bring down the retail prices across the country.