New Delhi: Fuel prices in the country have increased for twelfth time in last two weeks. Oil companies Monday hiked petrol and diesel prices by 40 paise a litre, taking the total increase in rates to Rs 8.40 per litre.
According to the new tariff, petrol in the national capital Delhi will cost Rs 103.81 per litre, while diesel will be priced at Rs 95.07 per litre.
In the commercial capital Mumbai the price of petrol has shot up to Rs 118.83 per litre, which is an increase of 84 paise. Diesel has been hiked by 43 paise and will now cost Rs 103.07.
Rates have been increased across the country for the twelfth consecutive day after the first increase on March 22. In total, petrol prices have increased Rs 8.40 per litre.
Fuel prices vary across the country due to the taxes imposed by state governments.
The hike in fuel prices on March 22 came after a gap of more than four months. In November last year, the government had cut excise duty on fuel in order to provide relief to consumers. Petrol price was at an all-time high when the government slashed duty on petrol by Rs 5 per litre and diesel by Rs10 a litre.
The increase in fuel prices is being attributed to rising cost of crude oil in the international market due to the Russia-Ukraine conflict.