On Monday, May 10, the price of petrol was hiked by a steep 26 paise per litre and diesel by 33 paise a litre, as per a price notification by state-owned fuel retailers.
After the hike, the petrol prices in Delhi rose to INR 91.53 per litre against INR 91.27 on Sunday whereas the price of diesel spiked to INR 82.06 per litre as compared to INR 81.73 a litre on Sunday. Moreover, in Mumbai, the price of petrol and diesel stood at INR 97.86 and INR 89.17 per litre respectively.
Furthermore, the price of petrol and diesel in Chennai was INR 93.38 and INR 86.96 per litre respectively and INR 91.66 and INR 84.90 per litre in Kolkata.
On the other hand, earlier on May 6, petrol prices in Mumbai marked a new record by reaching INR 97.34 per litre whereas diesel was priced at INR 88.54 per litre in Mumbai. This was the highest ever petrol price recorded in Mumbai. Earlier, the highest price observed in Mumbai was INR 97.16 per litre for petrol and INR 88.22 per litre for diesel.
Experts also mentioned that the price had stabilised since February 27 due to Assembly elections in five states. However, immediately after the election results were announced, the prices shot up to INR 3 per litre for petrol and by INR 2 for diesel. Moreover, this trend may continue for some more time. Moreover, the traders, transporters and the general public, who have already been hit hard by the lockdown, will have to bear the brunt of inflation.
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