The common man is unlikely to see any respite on fuel prices anytime soon, the petrol has again crossed to the second highest price ever recorded in India with a hike of 13 paise on Saturday, the highest in 20 days time. Diesel also was hiked by 15 paise which is the highest increase since April 1, 2018.
As per the IOC website, in the national capital while Diesel was selling at Rs. 65.46/lt, petrol was being sold for Rs. 74.21 per litre.
The hike is more acute since the crude oil prices have surged to a 4-year high and US President has even slammed the OPEC for artificially increasing the price.
In light of the surge in fuel prices, it has been reported that Chidambaram even slammed the current NDA led government for not taking proper measures to curb the undue rise.
Since the mid of last year, price of fuel has been deregulated and is being priced in line with the international pricing thus following dynamic pricing model.