MONEY
Govt said 'Fake News' in April, hikes fuel prices in May
Petrol and diesel prices have been hiked by ₹3 per litre as global crude oil prices rise amid the Iran war.
The hike, however, comes just weeks after the government had assured there would be no such hike post the elections and had dismissed such reports as 'fake news.'
It is not clear if there will be further hikes, but some analysts had predicted hikes of up to Rs 25 per litre post elections.
What's in it for you?
- •DAILY COMMUTE WILL GET EXPENSIVE Your daily commute will get more expensive. If you use your own vehicle, you will feel the price hike immediately when you fill in your tank next. For cab services, it is still to be seen whether the companies will pass on the price hike immediately.
- •OTHER SERVICES MAY GET PRICEY, TOO The fuel price hike may seep into your quick commerce bills as well as for other logistics services. Once prices increase, they usually do not tend to come down again.
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