New Delhi: Petrol and diesel prices on Wednesday were hiked for the second day in a row since the ending of an over four-and-half month hiatus in rate revision.
In Delhi, petrol will now cost Rs 97.01 per litre as against Rs 96.21 previously while diesel rate has gone up from Rs 87.47 per litre to Rs 88.27.
In the financial capital of the country, Mumbai, the petrol and diesel prices were raised by 85 paise a litre and it will be sold at Rs 111.67 and Rs 95.85 per litre respectively.
After a rise of 75 paise, the price of petrol is Rs 102.91 per litre in Chennai. In the city, the price of diesel is Rs 92.95 after an increase by 76 paise per litre.
In Kolkata, the petrol price was hiked by 83 paise whereas, the diesel price was raised by 80 paise. Now, the petrol and diesel will be sold at Rs 106.34 at Rs 91.42 per litre respectively in Kolkata.
Petrol, diesel price in Hyderabad
Hyderabad too witnessed hike in prices of petrol and diesel.
In the city, the prices of petrol and diesel witnessed a hike of Rs. 0.9 and Rs. 0.88 respectively.
The prices of petrol and diesel which were Rs. 109.10 and Rs. 95.50 have been raised to Rs. 110.01 and Rs. 96.37 respectively.
| Cities | Petrol price per litre | Diesel price per litre |
| Hyderabad | Rs. 110.01 | Rs. 96.37 |
| Delhi | Rs. 97.01 | Rs. 88.27 |
| Mumbai | Rs. 111.67 | Rs. 95.85 |
| Kolkata | Rs. 106.34 | Rs. 91.42 |
| Chennai | Rs. 102.91 | Rs. 92.95 |
Rate revisions began after 137 days
A 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates. Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab.
During the period, the cost of crude oil soared by $30 per barrel. Currently, the price of is $116.86 per barrel.
How much hike expected?
Oil companies are now recouping the losses.
According to CRISIL Research, a hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices.
India is 85 per cent dependent on imports to meet its oil needs.
Opposition parties protest
Meanwhile, the Opposition parties on Tuesday created a ruckus in the Rajya Sabha against rising fuel prices in the country.
The Opposition parties, including Trinamool Congress, Shiv Sena and Congress, created pandemonium after the Rajya Sabha Chairman M Venkaiah Naidu rejected their plea to hold a discussion over rising fuel prices under Rule 267.
With inputs from agencies
