Petrol, diesel prices hiked again

This hike is the fourth increase in five days

Petrol and diesel prices were hiked by 80 paise a litre each on Saturday, the fourth increase in five days as oil firms passed on to consumers the spike in cost of raw material.

Petrol in Delhi will now cost ₹98.61 per litre as against ₹97.81 previously while diesel rates have gone up from ₹89.07 per litre to ₹89.87, according to a price notification of state fuel retailers.

All the four increases since the ending of a four-and-half-month-long hiatus in rate revision on March 22, have been of 80 paise a litre. These increase increases are the steepest single-day rise since the daily price revision was started in June 2017.

In four increases, petrol and diesel prices have gone up by ₹3.20 a litre.

Prices had been on a freeze since November 4 ahead of the assembly elections in States like Uttar Pradesh and Punjab— a period during which the cost of raw material (crude oil) soared by about U$30 per barrel.

The rate revision was expected soon after assembly elections ended on March 10 but it was put off.