Petrol, diesel rates up by 80 paise per litre again, 11th hike in 13 days

The rates of petrol and diesel in Delhi increased by 80 paise a litre on Sunday. In Mumbai, petrol and diesel are selling at Rs 118.41 (increased by 84 paise) and Rs 102.64 (increased by 85 paise).

This is the eleventh hike in fuel rates in 13 days, the total hike now amounts to Rs 8. Petrol is now selling at Rs 103.41 per litre in Delhi and diesel is trading at Rs 94.67 per litre.

Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.

The recurrent increases in fuel prices over the past 10 days are eating into the margins of transporters, who will be forced to pass on the hikes to their customers. This, in turn, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth, said transporters and analysts.

Read more: Small, frequent spikes in fuel prices to dent consumption, challenge growth