NASHIK: Fuel prices, which remained stable during the state assembly elections in five states, have been rising daily after the declaration of the election results. The petrol price will touch Rs 100 in Nashik soon. The general people are worried as fuel prices, which had stabilized in April, are increasing again. The graph of fuel price hike, which started last week, is on the rise. Petrol and diesel prices have risen six times in eight days.
On Wednesday, petrol price was hiked by 24 paise to Rs 98.86 per litre, while diesel price was hiked by 26 paise to Rs 88.86 per litre. Fuel prices had fallen slightly for some time due to elections in April. However, fuel prices have been rising steadily for eight days since May 4.
Petroleum companies now have the authority to set prices as the central government has deregulated petrol and diesel. Therefore, companies announce the prices of both petrol and diesel on a daily basis. As a result, fuel prices fluctuate constantly. In the eight days from May 4 to 12, fuel prices have gone up six times. In these eight days, petrol price has gone up by Rs 1.44 and diesel by Rs 1.76.