Fuel rates up by 94 paise in Mysuru

Mysore/Mysuru: Petrol and diesel prices were hiked again on Tuesday, with fuel rates rising by around 90 paise per litre across the country. This marks the second increase in less than a week as soaring global crude oil prices continue to put pressure on State-run oil companies.

With the latest revision, petrol price in Mysuru is increased to Rs 106.67 per litre from Rs. 105.73, while diesel rose to Rs. 94.63 per litre from Rs. 93.69

The latest hike comes just four days after oil marketing companies had hiked petrol and diesel prices 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 rose 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 international crude prices and domestic retail fuel rates.