The oil marketing companies are arguing that the continuous increase in prices this week is due to the 15 days trail in domestic prices of fuel as compared to international markets.
As a result of the regular hike since the past six days, there is an increase of 0.50 paisa for petrol and 1.04 paisa for diesel all over India. The price of petroleum products had been kept at a moderate level during the last month, even when the global price of oil increased up to 10%. However, after the last phase of polling on May 19, petrol and diesel prices have increased regularly except on one day, May 22.
According to data from Indian Oil Corporation (IOC), the price of petrol in Delhi, Kolkata, Mumbai, and Chennai are Rs. 71.53, Rs 73.60, Rs 77.14 and Rs 74.25 respectively, on Sunday. And the price of diesel in Sunday is Rs 66.57, Rs 68.33, Rs 69.75 and Rs 70.37 respectively, in these metropolitan cities. Last Sunday, the price of petrol in Delhi was Rs 71.03 and diesel Rs 65.96.
As per reports, there are indications that the government issued instructions to the companies to keep the prices of petrol and diesel at a moderate level during election time. The oil marketing companies are arguing that the continuous increase in prices this week is due to the fact that the domestic prices had not been increasing for 15 days in tandem with the price of petrol and diesel in international markets.
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