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Petrol, diesel prices hiked 3rd time this week; J&K prices highest in North India

ZT Team Report

Srinagar: The prices of petrol and diesel were raised for the third consecutive day on Thursday after state-owned oil marketing companies resumed daily rate revisions following an over two-week hiatus. Petrol and diesel saw a 25 paise and 20 paise hike, respectively, in Delhi.

As per the latest hike, a litre of petrol and diesel will cost around Rs 92.99 per litre and Rs 83.42 per litre in various districts of J&K.

This hike also makes fuel prices costliest among the neighboring states in north India.

Fuel prices saw a similar hike across other metro cities as well.

Sources in J&K’s Petrol Dealers Association told Ziraat Times that the reason these prices differ from state to state depends upon VAT imposed by the respective states.

Oil marketing companies resumed daily revisions on Tuesday after an over 18-day halt coinciding various state elections when petrol and diesel prices were hiked by 15 paise and 18 paise, respectively.

These companies had cut petrol and diesel prices by 67 paise a litre and 74 paise a litre, respectively, between March 24 and April 15. In the past three days of the continuous hike, more than half of the cut has been wiped out. Oil marketing companies had put a freeze on the revision of oil prices in the past few days, which coincided with assembly polls in five states, including West Bengal.

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