Why are fuel prices rising again?

Petrol and diesel prices were hiked by 60 paise per litre each on Monday, for the second day in a row. Oil companies had on Sunday raised prices by 60 paise per litre on both petrol and diesel.

The hikes: Petrol and diesel prices were hiked by 60 paise per litre each on Monday, for the second day in a row. Oil companies had on Sunday raised prices by 60 paise per litre on both petrol and diesel.

The pause: Oil PSUs had put daily price revisions on hold soon after the government hiked excise duty on petrol and diesel by Rs 3 per litre each on March 14. The excise duty hike wasn’t passed on to consumers and oil companies, instead, set them off against the subsequent decline in retail prices.