The rate of petrol and diesel prices were hiked in India on Tuesday after a gap of four months. The price of both petrol and diesel was hiked by 80 paise per litre.
Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel rates have gone up from Rs 86.67 per litre to Rs 87.47.
Price of petrol & diesel in Delhi at Rs 96.21 per litre & Rs 87.47 per litre respectively today
Petrol & diesel prices per litre- Rs 110.82 & Rs 95.00 in Mumbai; Rs 105.51 & Rs 90.62 in Kolkata; Rs 102.16 & Rs 92.19 in Chennai respectively
The rise in crude oil prices put huge pressure on the Indian economy. High crude oil prices pose inflationary, fiscal, and external sector risks.
India’s budget calculations for the financial year 2022-23 have been made with an assumption of crude oil price of $70 to $75 per barrel.