(LiveMint)
State-owned oil marketing companies (OMCs) raised petrol and diesel prices on Tuesday after the results were declared for the assembly elections in West Bengal, Assam, Kerala, Tamil Nadu, and Puducherry on Sunday.
This is for the first time since 23 February that the transportation fuel prices have been raised against the backdrop of the high-pitched state assembly elections. As a result, while petrol price increased by 15 paise per litre in Delhi, diesel price was raised by 18 paise per litre. Petrol and diesel were retailing at Rs90.55 per litre and Rs80.91 per litre respectively on Tuesday in Delhi at state run Indian Oil Corporation Ltd’s outlets.
The cost of the Indian basket of crude, which comprises Oman, Dubai and Brent crude, was at $65.71 a barrel on 3 May. Following the covid outbreak, crude prices for Indian basket of crude had plunged to $19.90 in April last year before recovering to $63.40 a barrel in April, data from the Petroleum Planning and Analysis Cell showed.
