Punjab: Petrol and diesel prices in Punjab and Chandigarh have once again witnessed a hike. Petrol prices have risen by 87 paise per litre approximately, while diesel prices have risen by 91 paise per litre.
Mohali becomes the costliest city for fuel
Among all the districts in Punjab, SAS Nagar, Mohali recorded the highest petrol prices, the price of petrol has reached a high of ₹103.39 per liter. Before this, prices were also raised on May 15 and May 19. This means that within just nine days, consumers have faced the shock of costlier fuel for the third time.
| City/District | Petrol Before | Petrol Now | Diesel Before | Diesel Now | ||
|---|---|---|---|---|---|---|
| SAS Nagar (Mohali) | ₹97.90 | ₹103.39 | — | — | ||
| Chandigarh | ₹94.24 | ₹98.93 | ₹82.45 | ₹86.93 | ||
| Shimla | Below ₹100 | ₹100.14 | — | ₹92.17 |
In Chandigarh, petrol is now retailing at ₹98.93 per liter and diesel at ₹86.93 per liter. Before May 15, diesel was priced at ₹82.45 per liter it has now become costlier by nearly ₹4. Oil prices have also risen in Shimla, Himachal Pradesh, where petrol is now priced at ₹100.14 per liter and diesel at ₹92.17 per liter.
Transport Cost may increase
The rising cost of petrol and diesel has a direct impact on the transport sector. There are apprehensions that taxi, auto-rickshaw, and freight charges within the city may increase. The prices of vegetables, groceries, and daily essentials could also rise. Traders state that the continuously rising fuel rates are driving up freight transportation costs.
Price could go up further, say experts
Experts believe that this hike of ₹3 in petrol and diesel prices is insufficient. To fully eliminate their losses and reach a ‘break-even’ point a ‘no-profit, no-loss’ situation these companies still need to raise petrol prices by ₹28 per liter and diesel prices by ₹32 per liter.
Currently, a shortfall of 29.5% persists on petrol and 36.5% on diesel. If supply in the global energy market continues to be disrupted in this manner possibly due to the conflict involving Iran further price hikes could be witnessed in the coming days. Will Tour and Travel Operators Also Hike Taxi Fares Following the Rise in Petrol and Diesel Prices?
Taxi fare May Rise
Jeevanjot Singh Grewal, President of the Punjab Taxi Union-31, states, “For the time being, taxi fares have not been increased. We will hold a union meeting within a day or two and subsequently take a decision regarding the future course of action. In any case, with summer vacations now underway in schools, bookings have started to pour in; consequently, the Taxi Union will soon finalize a decision regarding the fares.” If petrol and diesel prices rise further, fares are expected to increase by 5% to 10%; this would, in turn, cause people’s summer vacation budgets to swell by 20% to 30%.