Petrol, diesel prices hiked by Rs 8 in 15 days.

NEW DELHI : Petrol and diesel prices were increased for the 15th consecutive day today. After today’s hike of 35 paise and 60 paise, petrol price has gone up byRs 7.97 a litre and diesel price byRs 8.88 a litre during the fortnight. At 19-month high, petrol price is now close to the Rs 80 mark in Delhi while diesel is at an all-time high.
In 2018, petrol and diesel prices had touched record highs. On October 16, 2018, diesel rate had touched a peak of Rs 75.69 per litre in Delhi and on October 4, 2018, petrol price had soared to Rs 84 a litre in Delhi. Diesel price is now at new highs.
According to a report, fuel price would continue to be hiked for the next few days to cover up for the losses being incurred by oil marketing companies necessitated with the recovery in crude oil rates.
The government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each and then again on May 5 by a record Rs 10 per litre in case of petrol andRs 13 on diesel. The two hikes, however, did not lead to an immediate hike at that point of time in retail prices as it was adjusted against the drop in crude oil rates.

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