Petrol rate goes up by 87 paise, diesel by 91 paise per litre

Mysore/Mysuru: Fuel prices were hiked yet again this morning, with petrol price rising by 87 paise per litre and diesel by 91 paise per litre across the country. This is the third increase in 10 days as soaring global crude oil prices continue to put pressure on State-run oil companies.

With the latest revision, petrol price in Mysuru increased to Rs. 107.61 per litre from Rs. 106.67, while diesel rose to Rs. 95.57 per litre from Rs. 94.63.

The latest hike comes just four days after oil marketing companies had raised petrol and diesel prices by 90 paise per litre on May 19. Earlier, after nearly four years, the fuel prices were increased by Rs. 3 per litre on May 15. 

Following that revision, petrol prices in Mysuru had jumped from Rs. 102.47 to Rs. 105.73 per litre, while diesel prices had risen from Rs. 90.57 to Rs. 93.69 per litre.

The earlier hike was introduced amid a sharp rise in international crude oil prices triggered by geopolitical tensions in West Asia and disruptions in global oil supply routes.

Despite the Rs. 3 increase, oil companies were reportedly still facing substantial losses due to the widening gap between intl. crude oil prices and domestic retail fuel rates.