Petrol, diesel prices hiked by Rs 3 per litre

New Delhi, May 15: Petrol and diesel prices were on Friday hiked by Rs 3.04 per litre each, with petrol now retailing at Rs 97.77 per litre and diesel at Rs 90.67 per litre in the national capital, according to a price notification by state-run oil marketing companies.
The revised rates, effective from early Friday morning, have come as a fresh blow to commuters and transport operators already grappling with rising living costs.
Officials said the hike was necessitated by firming global crude oil prices and volatility in currency markets. The increase follows Prime Minister Narendra Modi’s recent appeal to the public to reduce fuel consumption and adopt energy-saving measures.
The upward revision is expected to trigger a rise in transportation charges and prices of essential commodities in the coming days, economists said, adding that inflationary pressures may intensify.
Opposition parties were quick to criticise the government, alleging that common citizens are being hit hard by repeated fuel price hikes. Congress leaders termed the move “anti-people” and demanded an immediate reduction in central excise duty.
Meanwhile, government sources defended the hike, stating that domestic fuel prices are dynamically linked to international benchmarks and that the Centre has already cut excise duty in the past to provide relief. (KNS)