New Delhi, Jun 15: Fuel prices have once again been hiked. The rate of petrol has gone up by 5 paise, whereas diesel price has been increased by Rs 1.26. As per the revised rates, one litre of diesel in Delhi will now cost nearly Rs 53. Also Read - Congress Workers Ride Bicycles, Bullock and Horse Carts to Protest Fuel Hike, Pictures & Videos Go Viral

The fuel prices have been hiked by state-owned petroleum corporations across the country. On every 1st and 15th of the month, the price is revised by the oil corporations, as per the flexibility given to them by the government. The increased prices would be charged by fuel retailers of Indian Oil Corporation, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL). Also Read - Petrol, Diesel Price Today: Crude Oil Rates in Delhi Hike Again After Single-day Freeze

This is the fourth straight consecutive price rise since mid April 2016. In mid March, the prices were slashed. However, in the past three months, they have been increased by Rs Rs 9.04 and Rs 11.50 per litre for petrol and diesel respectively. Also Read - Fuel Price Hike: Congress to Hold Nationwide Protest on Monday

Currently, the crude oil prices internationally is $50 per barrel. The last fare hike was reported on June 1, when price of petrol was hiked by Rs 2.58 per litre and diesel by Rs 2.26 a litre.