The price hike came after a gap of two months
translate : Malayalam
New Delhi: Petrol and diesel prices have been hiked in the country after a gap of two months. Petrol price was hiked by 17 paise per liter and diesel by 22 paise on Friday. With this, the price of a liter of petrol in Kochi is Rs 81.77. 74.84 for diesel. In the first week of June, petrol was priced at Rs 73 and diesel at Rs 67. In Delhi, petrol was priced at Rs 81.23 per liter and diesel at Rs 70.68 per liter. In Mumbai, petrol is priced at Rs 87.92 and diesel at Rs 77.11.
Although the price of crude oil fell globally, the price of oil in the country did not fall. Oil companies’ profits have risen sharply in the past month compared to the previous month. There were reports that fuel prices would come down in the run-up to Diwali. But all this was misplaced and the price went up again.
Prices are revised daily by public sector oil companies. Inflation is determined by the change in international crude oil prices and the value of the rupee. The price had not been raised for two months after the lockdown was announced in March. However, in May, the central government raised the excise duty on petrol by Rs 10 per liter and diesel by Rs 13 per liter. In the first week of June, the daily increase began again. For weeks on end, the price hike was a nightmare for the people affected by the Kovid crisis. Later, petrol prices were not revised from September 22 and diesel from October 2.
