Fourth fuel price hike since May 15 pushes petrol to Rs 103.94 in Goa

Panaji: Petrol and diesel prices in Goa rose to Rs 103.94 per litre and Rs 95.83 per litre respectively on Monday after the government effected an increase of Rs 2.66 per litre and Rs 2.74 per litre in the selling rates of the two fuels.

“The price of high-speed petrol in the state has now reached Rs 112.84 per litre following an increase of Rs 2.67 per litre,” Goa Petrol Dealers Association president NarharThakur said.

He said that the revised rates came into effect from 6 am on May 25 after oil marketing companies announced the hike.

This is the fourth upward fuel price revision undertaken by oil PSUs since May 15 due to a surge in international prices following the US-Israel war and the West Asia crisis.

Over the last 10 days, fuel prices have increased by around Rs 7.5 per litre, with the steepest hike of Rs 3 per litre recorded on May 15. Consumers fear further price increases in the coming days.

Despite the cumulative hikes, consumption of petrol and diesel in Goa and other states has not declined, according to oil PSUs and petrol pump owners. Diesel demand in Goa increased by 14.3 per cent between May 1 and 21, rising from 16,353 KL to 18,697 KL.

Goa’s per capita petrol consumption at 149.2 kg per person remains the highest in India against the national average of 30.1 kg per person. Diesel consumption at 184.1 kg per person is also significantly above the all-India average of 67 kg per person.

The state has around 146 fuel stations, including 56 operated by Bharat Petroleum, 40 by Hindustan Petroleum and 50 by Indian Oil Corporation.

Oil marketing companies stated that fuel supply in Goa continues to remain uninterrupted without any shortage. They stated

that petroleum products are being replenished on time across markets and advised citizens to avoid panicbuying.