Following the completion of Karnataka Elections, companies have increased fuel prices. Fuel prices have increased as part of the daily hike, without giving any notice. Petrol price was increased by 17 paise to Rs 77.52 per liter. The diesel price has been increased by 23 paise to Rs 70.56 a liter. The price increases after a gap of 19 days.
With the fuel price hike rising, oil prices have been on the rise for a few days. Following this the protests against the central government were uprooted. Karnataka elections came in between. The central government has directed oil companies to avoid price hike in order to avoid the refund in the name of fuel price hike. Since then, companies have not increased prices since last 24th.
Fuel prices are currently on the rise in the international market. This is likely to increase in India in the coming days.