Central Government Hikes Petrol And Diesel Prices Nationwide

New Delhi, May 15, AIMA Media Update News : The Central Government has delivered a massive shock to motorists across the country. After nearly four years, it has taken a pivotal decision to hike the prices of petrol and diesel. The government announced an average increase of Rs. 3 per liter for both petrol and diesel. These revised prices came into effect from 6:00 AM on Friday.

Following the price hike, the cost of a liter of petrol in the national capital, New Delhi, has risen to Rs. 97.77, while diesel has gone up to Rs. 90.67. In Hyderabad, the price of petrol increased by Rs. 3.39 per liter, and diesel by Rs. 3.26. Consequently, the price of petrol in Hyderabad has reached Rs. 110.89, and diesel Rs. 98.96. In Andhra Pradesh, petrol prices rose by Rs. 3.29 and diesel by Rs. 3.14. Meanwhile, in Mumbai, the price of petrol has reached Rs. 106.68, and diesel Rs. 95.13. In Chennai, the price of petrol rose to Rs. 103.67, and diesel to Rs. 95.25.

Central government sources indicate that this decision was taken against the backdrop of mounting pressure on oil companies, stemming from ongoing tensions in West Asia and the rising prices of crude oil in the international market. However, the fact that these prices were hiked just two or three days after Prime Minister Modi urged citizens to practice the "mantra of austerity" has now become a subject of intense public debate. Economic experts state that, with the recent hike in fuel prices, transportation costs are likely to rise. Consequently, they anticipate that this will have an impact on the prices of essential commodities, travel fares, and various other sectors.

--- M Venkata T Reddy, News Editor And Investigative Journalist