Fuel prices surge as soon as election ends in Karnataka

Two days after the Karnataka elections, the petrol and diesel prices saw an increase in their respective prices. The increase has been 69 paisa/per litre for petrol and 86 paisa/per litre for diesel.

The upsurge in fuel prices continued unabated on Friday as the petrol price in the national capital of Delhi hit Rs 75.61, up 29 paise from Rs 75.32 on Thursday. Diesel prices in Delhi also went up in equal measure as it breached the Rs 67-mark and stood at Rs 67.08. (timesofindia.com)

No sooner had Karnataka polled to elect a new state government, state-owned Indian Oil Corp. Ltd Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL) on Monday ended a 19-day hiatus in revising petrol and diesel prices and reverted to the practices of changing rates on a daily basis. (livemint.com)

Since then petrol price has risen by 69 paisa a litre, including a 22 paisa hike effected Thursday that took rate in Delhi to Rs75.32, the highest in almost five years. Diesel prices have gone up by 86 paisa a litre, including 22 paisa increase on Thursday that took the rate to their highest-ever of Rs66.79 a litre in Delhi. (livemint.com)

As per IOCL here is the pricing since December 2017 (courtesy iocl.com)

Petrol price (in Rs. per litre)
15-May 14-May 13-May 31-Mar 31-Dec
74.95 74.8 74.63 73.55 69.97
77.65 77.5 77.32 76.26 72.72
82.79 82.65 82.48 81.41 77.87
77.77 77.61 77.43 76.29 72.53

Diesel price (in Rs. per litre)
15-May 14-May 13-May 31-Mar 31-Dec
66.36 66.14 65.93 64.4 59.64
68.9 68.68 68.63 67.09 62.3
70.66 70.43 70.2 68.58 63.27
70.02 69.79 69.56 67.93 62.83

For more on oil prices, visit Indian oil website at https://iocl.com/TotalProductList.aspx

According to a PTI report, oil PSUs have refused to acknowledge if the freeze followed a government diktat. (moneycontrol.com)

Sandeep Bhatti, a driver from Greater Noida says, " It isn't a great idea for poor and lower middle class families. We were already paying so much for the fuel".

With effect from 6:00 am on May 15, petrol retailed at Rs. 74.95 per litre in Delhi, Rs. 77.65 per litre in Kolkata, Rs. 82.79 per litre in Mumbai and Rs. 77.77 per litre in Chennai, according to Indian Oil Corporation. Diesel prices were at Rs. 66.36 per litre, Rs. 68.9 per litre, Rs. 70.66 per litre and Rs. 70.02 per litre respectively. (ndtv.com)















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