Pinched Pocket: Petrol and diesel prices hiked by 90paise per liter in India.

Petrol and diesel prices hiked by 90paise per liter in India. This is seen to the second hike in a week. With the ongoing US-Iran conflict and the strait of Hormuz still closed , major economies around the world including India has been forced to increase the prices of fuel as their losses continue to surge in the crude oil rates. The hike came in at a time when the Oil Marketing Companies (OMCs) were witnessing a loss of 1000 crores per day with the escalating crude oil cost. As fuel prices vary from state to state, citizens who are already struggling with the rising cost of living face an even greater financial burden. Delhi , Mumbai, Kolkata , Chennai saw consecutive hikes in both the fuels. While fuel prices continues to grow, the public anticipate rise of cost in other sectors as well such, transport and other essential commodities.