Fuel prices spike for third straight day

Fuel prices across India get costlier by each day. Petrol price has hiked by 54 paise and diesel by 58 paise on Tuesday.

This is the third straight daily increase after oil PSUs ended 82-day hiatus in rate revision. In just three days, the price of both fuels has increased by more than Rs. 1.7 a litre each. Brent crude oil rates have doubled in a month's time and are now trading above $40.