Petrol and diesel price rose for the second straight day. However it'll value you?
Petrol and diesel costs were hiked once more by 80 paise a liter for a second straight day as oil marketing companies started to pass on the sharp increase in international rock oil costs to shoppers.
In Delhi, fuel can currently value you Rs 97.01 per liter as against 96.21 earlier whereas diesel sees a jump to Rs 88.27 a liter from Rs 86.67, consistent with state-owned fuel retailers.
In Mumbai, fuel may be bought at Rs 111.67 per liter and diesel prices Rs 95.85, Associate in Nursing 95 paise hike from Tuesday's Rs 95 for a liter.
The hike is well short of the rise needed for fuel retailers to interrupt even. Since early November, crude oil has become regarding 40% costlier.
The extent of revision needed was evident from the steep increase declared earlier on within the value of diesel for bulk buyers, that typically prices but retail. However customers like transporters and therefore the trade currently have to be compelled to pay regarding Rs 25 a liter additional for the fuel they purchase in bulk. Aviation fuel, meanwhile, is up nearly 50% over November costs. "The pass-through of rising crude oil costs to domestic fuel costs is, therefore, inevitable, and additional hikes can even be expected," ratings firm Crisil wrote in an exceedingly note.
The government had reduced the excise duty on fuel by Rs 5 per liter and diesel by Rs 10 per liter on November 4, two days when it last raised the fuel costs, to supply relief to customers.
