Petrol, diesel costs hiked for second day in a row

Petrol and diesel costs on Wednesday have been hiked by 80 paise a litre every for the second day in a row because the ending of an over four-and-half month hiatus in fee revision.

Petrol in Delhi will now value Rs 97.01 per litre as towards Rs 96.21 beforehand whereas diesel fee has gone up from Rs 87.47 per litre to Rs 88.27, based on a value notification of state gas retailers.

A report 137-day hiatus in fee revision ended on March 22 with an 80 paise per litre enhance in charges. Prices had been on a freeze since November 4 forward of the meeting elections in states like Uttar Pradesh and Punjab – a interval throughout which the price of uncooked materials (crude oil) soared by USD 30 per barrel.

Oil corporations are actually recouping the losses.

According to CRISIL Research, a hike of Rs 15-20 per litre is required to totally go the rise in worldwide oil costs.

India is 85 per cent depending on imports to satisfy its oil wants.