Hike In Petrol And Diesel Prices In Delhi

Petrol and diesel rates per litre in Mumbai are Rs 112.51 and Rs 96.70, respectively.

On Friday, the prices of the Petrol and diesel increased in the National Capital.

According to a notification sent by Indian Oil Corporation to fuel dealers, petrol and diesel rates will increase by 80 paise on Friday, the third such hike within a week. Earlier this week, petrol and diesel were increased by 80 paise on both Monday and Tuesday. 

The prices of petrol and diesel prices were raised by 80 paisa per litre, the third increase in four days. According to a price notification issued by state fuel dealers, the price of petrol and diesel in Delhi today is Rs97.81 per litre and Rs89.07 per litre, respectively.

According to the statement given by CRISIL Research said a Rs9-12 per litre increase in retail price will be required for a full pass-through of an average USD 100 per barrel crude oil and Rs15-20 a litre hike if the average crude oil price rises to USD 110-120.

India is 85 per cent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.

According to Kotak Institutional Equities, Oil companies "will need to raise diesel prices by Rs13.1-24.9 per litre and Rs10.6-22.3 a litre on gasoline (petrol) at an underlying crude price of USD 100-120 per barrel." 

The capital city along with few other cities witnessed a surge in fuel prices. This also in the foremost list when it comes to any sort of increment or implementation.