Fuel Prices Hiked Again in India: A recent hike in the fuel prices has broken yet another record in India. The era of a fuel price hike was ready to meet its end but another hike in the prices has strikingly sent petrol rates to an ever high again.
The Oil Marketing Companies (OMC) of India has increased the prices of both petrol and diesel in the National Capital Region (NCR) and many other cities across the country. The asking price of petrol in Delhi has risen to INR 85.20 per litre, which is the highest till date. The rate of diesel on the other hand stands at INR 75.38 per litre, as on January 21, 2021.
A lot of other metro cities have also experienced a price hike in their fuel prices. In a big city like Mumbai, a motorist would now have to shell out INR 91.80 for a litre of petrol, while diesel will now cost them around INR 82.13 per litre.
If we talk about Kolkata, petrol is now available at INR 86.63 per litre, while the diesel now costs INR 78.97 a litre whereas, in Chennai, petrol is retailed at INR 87.85 and diesel for INR 80.67 per litre.
After nearly a month-long hiatus, the OMCs has started increasing the rates of both petrol and diesel earlier this month further creating a hike. This recent price hike is the third of its kind that is being witnessed in January 2021, while the last two fuel price hikes were done between 6th and 7th January.
This rise in the price of fuel is a direct consequence of increasing rates of global fuel prices. The initiation of COVID-19 vaccination drives across the globe has also led to a surge in oil rates globally. However, the government also has a major role to play in this situation. The reduction in taxes levied on the fuel would pave a long way and saving people from further feeling the surge in fuel rates.
