Deepika Chauhan
Fuel prices rose again and touched new highs on Friday as oil marketing firms determined to stop revising auto fuel prices to meet widening beneath the revival.
Therefore, the petrol price hike among 22-25 paise per litre across all major metros even as diesel price increase ranged 23-27 paise per litre.
The rise in the retail price of auto fuels occurred on a day when some signs of moderation in global crude oil prices appeared less than one percent to near $ 55 per barrel. Crude oil prices have remained stable for the past few weeks due to unilateral production cuts informed by Saudi Arabia and enlarged consumption in all major economies worldwide.
The hike in prices of petrol and diesel is the third such amendment within this week. Auto fuel was raised by 25 paise per liter on Monday and Tuesday before the OMC decided to relieve buyers from the continuous price hike for the last two days.
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