In Nagpur, petrol price will cost Rs 112.2 per litre, diesel Rs 95
Nagpur: Fuel prices continued to march ahead as petrol and diesel rates on Friday have been increased by 80 paise a litre. This hike is the third time in four days. Till now, the fuel rates saw a rise of Rs 2.40 and the further dose in increase on the cards in coming days.
Earlier on Tuesday and Wednesday, petrol and diesel prices were hiked by 80 paise a litre each in a row since the ending of an over four-and-half month hiatus in rate revision.
With this hike, petrol price will now be Rs 112.2 per litre in Nagpur as on date. Similarly, the diesel rate in the city will be Rs 95 per litre.
The price of LPG too was raised by Rs 50 on Tuesday, March 22. With this increase, the subsidised cylinder costs approximately Rs 1,001.50 in Nagpur.
Prices of fuel had been on a freeze since November 4 ahead of the Assembly elections in states like Uttar Pradesh and Punjab — a period during which the cost of raw material (crude oil) soared by USD 30 per barrel. Oil companies are now recouping the losses.A hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices. India is 85 per cent dependent on imports to meet its oil needs.