With petrol and diesel prices going up by almost a rupee per litre within a fortnight, the Government today hoped that the rally in global rates is temporary and they will decline soon.
Petrol price was today hiked by 13 paisa a litre and diesel by 14 paisa, taking it to a new high.
In Delhi, where the fuel is cheapest in all metros and most state capitals due to lower sales tax or VAT, a litre of petrol now comes for Rs 78.18 as against Rs 78.05 per litre rate of yesterday.
Diesel on the other hand touched a new high of Rs 69.75, up from Rs 69.61.
“I earnestly believe that this increase in oil prices is really temporary,” Economic Affairs Secretary Subhash Chandra Garg told reporters here.
The fluctuations were seen coming, he said.