New Delhi: Oil companies have started hike in petrol and diesel prices for the fourth consecutive day on Friday as assembly elections in 4 states and 1 Union Territory are over. Today, petrol has become costlier by 28 paise per litre while diesel by 31 paise per litre in the national capital. In these four days itself diesel has become costlier by one rupee litre.
It may be recalled that the price of petrol and diesel did not increase for nearly two months during the assembly elections in 4 states and 1 Union Territory. But today, petrol touched Rs 91.27 per litre and diesel at Rs 81.73 per litre in the country's capital Delhi on Friday. Similarly, petrol is being sold at Rs 97.61 per litre and diesel at Rs 88.82 a litre in Mumbai, Petrol at Rs 91.41 and diesel at Rs 84.57 a litre in Kolkata and Petrol at Rs 93.15 per litre in Chennai and diesel at Rs 86.65 a litre.
A credit suisse report claims that if oil companies try to fix margins, i.e., overcome their losses, the price of petrol could go up by Rs 5.5 per litre and diesel by Rs 3 a litre. A recent credit suisse report said companies will now insist on improving their marketing margins due to the rising price of crude oil in the global market.