Petrol prices reach record high in Patna

PATNA: Petro prices have reached a new high this year with petrol selling at Rs 82.01 and diesel at Rs 72.42 per litre on Monday. The prices soared by 32 paise in the last 24 hours.
Petrol pump owners across the city claimed the prices were steady for nearly a week before the Karnataka election results were announced last week. “From May 11 to May 17, petrol price was hovering around Rs 80 per litre,” said Mohd Yusuf, proprietor of a petrol pump near Gandhi Maidan.
Sreekant Mishra, owner of another petrol pump on Boring Road, said, “This is the second time since April that prices have increased so much. After May 18, petrol price increased by 14 paisa, 33 paisa and 32 paisa respectively every day,” Mishra said.
Patnaites are fuming. “Such high prices add to the burden on common people. If the trend continues, I would prefer public transport,” said biker Feroz Khan, spotted at a petrol pump near Gandhi Maidan.
Experts, however, said residents should brace for yet another steep hike around May-end. “With rise in international crude oil prices, the price in India is also expected to rise. The existing crude oil price is US $71.04 per barrel and it may go up to US $80 per barrel by the end of May. As a result, petrol price will increase by Rs 7-8 and diesel price by Rs 4-5 per litre,” economist Prof D M Diwakar of A N Sinha Institute of Social Studies-Patna said, adding this upward trend might be witnessed till July.
Few residents are even postponing plans for purchasing vehicles. “I was planning to purchase a car, but now I think I should delay it. The increasing fuel prices will hit my monthly budget,” said private school teacher Ashok Srivastava.