State-run oil marketing companies on Tuesday increased petrol and diesel prices across major metro cities for the second time in less than a week. The latest revision comes after fuel prices were raised by ₹3 per litre last week.
According to an official from the oil ministry, oil companies were still incurring losses of nearly ₹750 crore per day on the sale of petrol, diesel and liquified petroleum gas (LPG) despite the earlier hike.
Petrol prices in metro cities on May 19
Diesel prices in metro cities on May 19
This comes days after Prime Minister Narendra Modi’s appeal to conserve fuel and foreign exchange. The appeal also included a push for work-from-home arrangements in certain sectors.
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Union petroleum minister Hardeep Singh Puri earlier indicated that a revision in fuel prices was likely. Speaking at a Confederation of Indian Industry (CII) event, he said the government would eventually need to take a decision on adjusting petrol and diesel rates.
Punjab chief minister Bhagwant Mann earlier said prices would rise further in the coming days. He alleged that the BJP-led government kept fuel prices low during elections and is now passing the burden of inflation on citizens. Mann also accused the Centre of hiding the true state of the economy and demanded disclosure of India’s oil, gas and gold reserves.
(With inputs from Rajeev Jayaswal)
