Fuel prices hiked 14 times in last 16 days

With the fuel prices going up by another 80 paise a litre on April 6, petrol and diesel in the past 16 days and after 14 hikes have become dearer by Rs 10 a litre. Petrol in the national capital crossed the Rs 105 mark today, whereas, in Mumbai, it has surpassed Rs 120.

With the latest hike in prices, petrol now costs Rs 105.41 per litre in Delhi, whereas diesel is priced at Rs 96.67 per litre.In Mumbai, petrol costs Rs 120.51 per litre after an increase of 84 paise and diesel is selling at Rs 104.77 a litre, increased by 85 paise.

In Chennai, the prices of petrol and diesel stood at Rs 110.11and Rs 100.19per litre respectively.

Prices are set to be raised further given the sharp jump in crude oil prices at the international markets. It will have a cascading impact on the prices of other items and lead to inflationary pressure and hurt growth while also impacting the prices of other items.