PETROL ,DIESEL PRICES HIKED FOR THE 4TH TIME THIS WEEK : COMMON MAN IN DOUBLE TROUBLE

(The Quiver) : On Saturday, state-owned oil marketing companies (OMC) raised petrol and diesel prices for the fourth time this week. These prices were revised for the very first time on Tuesday, March 22, after a gap of more than four months.

The latest petrol rate of today in the state is Rs 104.35  per litre , the rate of petrol increased to 86p/litre , than yesterday which was Rs 103.49 per litre. If this hike in petrol rate continues soon it will reach Rs 110 per litre till the month end.

As per pump prices, petrol now costs Rs 98.61 per litre and diesel Rs 89.87 per litre in the national capital.

The increase in selling price which includes state levies, central excise and cess amongst others, came days after crude oil prices saw astronomical rise due to the ongoing Russia-Ukraine war.

The OMCs revised the transportation fuel cost based on various factors such as rupee to US dollar exchange rate, cost of crude oil and demand of fuel amongst others. Furthermore, it is feared that current sanctions against Russia will curtail more global supplies and stifle growth.

The crude oil price range is a cause of concern for India as it may ultimately add Rs 15-Rs 25 in petrol and diesel selling prices. At present, India imports nearly 85 per cent of its crude oil requirements.

Within all these the ultimate sufferers is the common man who does cut-short in his budget to manage his everyday expenses but huge rise in petrol prices have even more increased burden on his living. It seems like after few days people will dump their vehicles being unable to manage with the rising petrol rates , they will switch over to its alternative that is E- vehicles or will rely on public transports.