Petrol and diesel prices have once again been hiked in India. Oil marketing companies (OMCs) on Saturday increased petrol prices by Rs 0.87 per litre, while diesel prices were raised by Rs 0.91 per litre. This marks the third fuel price hike this month; in fact, its the third hike within eight days.
Earlier this week, petrol and diesel prices were raised by 90 paise per litre, following another increase of Rs 3 per litre a few days earlier. Before these revisions, state-run oil marketing companies (OMCs) had claimed they were bearing losses of nearly Rs 1,000 crore per month, according to the Centre.
