Petrol, Diesel Prices Hiked Days After Karnataka Polls

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Rana Das, Bengaluru: The price of petrol and diesel were hiked on Monday, just two days after the conclusion of polling activity in the crucial Karnataka Assembly Elections 2018.

The price of petrol in the morning was revised by 17 paise and was retailing for Rs 74.80 in the national capital while the price of diesel jumped 21 paise to Rs 66.14 after a 19-day period where prices were left unrevised despite rising global crude oil price.

It may be noted that the fresh revision comes after the prices were last hiked on April 24. It should be noted that the price of petrol in Mumbai touched Rs 82.65; in Kolkata, it was retailing at Rs 77.50; Rs 77.61 in Chennai and Rs 76.01 in Bengaluru. On the other hand, diesel was retailing at Rs 68.68 in Kolkata; Rs 70,43 in Mumbai; Rs 69.79 in Chennai and Rs 67.27 in Bengaluru.

It should be noted that the Oil PSUs, who are responsible for revising rates, had kept it unchanged from April 24, roughly three weeks from now. According to reports, these oil firms have believed to have encountered a loss of Rs 500 crore as they absorbed the higher global rates in the run-up to polling activity in Karnataka Assembly Elections.

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