NEW DELHI: Prices of petrol and diesel went up by up to 91 paise per litre on Saturday, the third such hike in less than 10 days, raising the cumulative retail fuel rates across the country by nearly Rs 5 a litre.
In Delhi, petrol became costlier by 87 paise, from Rs 98.64 to Rs 99.51 per litre. Diesel rates jumped by 91 paise — from Rs 91.58 to Rs 92.49 a litre. Likewise, the cost of Compressed Natural Gas (CNG) went up by Rs 1 per kg, taking its retail cost in the Capital to Rs 81.09 per kg.
The latest hike comes amid disruption in global oil and gas supplies following the conflict in West Asia.
Despite the hikes, fuel retailers continue to absorb significant losses.
Amid long queues and reports of shortage at petrol pumps and some outlets running dry, Indian Oil said there was no overall shortage, adding fuel outage at certain retail outlets as “highly localised” and temporary.
The IOL statement said the higher demand at certain outlets was driven by a seasonal rise in diesel consumption during the harvesting season, migration of customers from private pumps where retail prices were relatively higher, and increased institutional purchases at public sector outlets.