News on fuel price hikes, with its regularity, have almost become a permanent fixture , with prices being hiked on seven consecutive days now.
Amid the pandemic-induced slowdown, wage cuts and job losses, these daily hikes have come as a major blow for many, across various strata of society.
The issue has taken a political turn, with Transport Minister A.K.Saseendran writing a letter to the Union Petroleum Minister marking the State’s protest against the daily increase amid the pandemic.
He requested the Minister to direct the petroleum companies to reduce the prices in line with the fall in global crude oil prices, as well as to control the duty hike.
Today, petrol price has been hiked by 59 paise per litre and diesel by 58 paise.
Petrol prices for metro cities today are: Delhi Rs 75.16, Mumbai Rs 82.10, Chennai Rs 78.99 and Kolkata Rs 77.05.
Diesel prices for metro cities today are: Delhi Rs 73.39, Mumbai Rs 72.02, Chennai Rs 71.64 and Kolkata Rs 69.23.
This continuous hike in price of fuel in India comes at a time when global oil prices dropped on patchy demand concerns.
The consecutive seventh-day rise in petrol and diesel rates comes after a 12-week pause and experts say that fuel prices can rise further in the wake higher domestic levies on fuel. The weak rupee-dollar exchange rate has also resulted in higher prices for petrol and diesel.
The rise in fuel prices came after international oil prices rebounded sharply a few days ago.
However, global crude oil rates again fell two per cent on Thursday due to deepening worries about slow demand growth and higher oil stockpiles.
