Petrol prices have been hiked by Rs 6 per litre since the beginning of July, and are now at their highest in three years after daily revision, PTI reported on Sunday. Meanwhile, diesel prices have increased by Rs 3.67 per litre in New Delhi, and a litre now costs Rs 57.06, the highest in four months. Petrol costs Rs 69.04 per litre in the national Capital, the highest since the second half of August 2014, when it was priced at Rs 70.33.
State-owned oil companies on June 15 decided to move to a system of daily revision of fuel prices, dumping a 15-year-old practice of revising these prices on the first and 16th of every month. Prices of petrol and diesel have been revised at 6 am every day since June 16. Rates dropped in June, but have been on the rise since July 3.
However, a senior oil company executive said that people have hardly noticed the rise in fuel prices. “Previously, everybody felt the pinch when rates would go up by Rs 2 or 3 per litre in one go. Now they are being increased by 1 paisa to 15 paise a litre everyday, hikes that have largely gone unnoticed.”
Fuel prices in other cities like Mumbai and Hyderabad have also increased since the scheme of daily price revision began.
Meanwhile, former Union Minister Shashi Tharoor criticised the government for the rising fuel prices.
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