OIL & GAS

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.

Source
ET Energy World
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