NEW DELHI: Petrol and diesel prices have gone up by Rs 3.20 each since March 22 when state-owned oil marketing companies (OMCs) ended the four-and-a-half-month election-related pause on price revision. On Saturday, fuel prices were again raised by 80 paise a litre each – the fourth hike in the past five days.
After the latest increase, one litre of petrol will cost Rs 98.61 in Delhi against Rs 97.81 previously, while diesel rates have gone up from Rs 89.07 to Rs 89.87 per litre. Fuel prices being a sensitive issue, the government had frozen the rates on November 4, 2021 ahead of elections in five states. Analysts expect the price rise to continue over the next few days. According to Kotak Institutional Equities, oil firms will have to raise petrol prices by Rs 10.6-22.3 a litre and diesel rates by Rs 13.1-24.9 per litre to match crude prices of Rs $100-120 per barrel.
Meanwhile, the Congress on Saturday announced a nation-wide campaign against the price rise under which it will organise rallies and marches across the country from March 31 to April 7. As part of the campaign, Congress workers will protest outside their houses and at public places on March 31 by garlanding LPG cylinders, beating drums and ringing bells to highlight the issue of inflation, said party general secretary and chief spokesperson Randeep Surjewala.