MUMBAI: Petrol and diesel prices in India were hiked for the second time in a week, after which inflation burdened the people further.
According to a foreign news agency, the price of petrol in the Indian capital New Delhi has been increased by about 90 paise per liter, while the price of diesel has also been increased by the same amount.
After the new increase, petrol in Delhi is Rs 98.64 and diesel is Rs 91.58 per liter. According to the report, the recent increase has been made at a time when crude oil prices in the global market have crossed $ 120 per barrel due to tensions with Iran and the situation in the Strait of Hormuz.
India is one of the largest oil importers in the world and the effects of the increase in global prices are directly affecting the Indian economy and the people.
Indian state-owned oil companies are involved, determining fuel prices across the country. The increase comes after the Rs 3 per liter hike last Friday, which has drawn sharp criticism from opposition parties. Indian oil ministry officials say state-run oil companies are losing billions of rupees a day on fuel sales, while the government has not announced any financial assistance so far.
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