New Delhi: Petrol and diesel prices were increased by around 90 paise per litre on Tuesday, marking the second fuel price hike in less than a week. This rise has intensified the already existing pressure on transport services. The latest hike comes just days after the Centre raised petrol and diesel prices by Rs 3 per litre across the country.
After the latest hike, Petrol prices in Delhi rose to Rs 98.64 per litre from Rs 97.77 earlier, while diesel rates increased to Rs 91.58 per litre from Rs 90.67. The spike has significantly impacted public transport users and transport owners earning solely on transport.
According to experts, the hike in turn may push up the prices of other essential goods as well. Experts say that if crude oil prices continue to rise in the international market, petrol and diesel could become even more expensive in the coming days, raising concerns about higher inflation.
The spike comes against the backdrop of rising conflicts in West Asia. Crude oil since has been recording a surge, pushing international markets into striking dynamics.
A decline in the value of the Indian currency is another factor driving the fuel price hike.
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