Srinagar, May 24 -- Valley residents on Saturday expressed concern over the multiple hikes in fuel prices over the past 10 days, saying this will fuel inflation, with commensurate increase in prices of other essential commodities.
Petrol and diesel prices were raised by 87 to 91 paise per litre on Saturday, taking the cumulative increase in retail fuel rates to nearly Rs 5 a litre in under 10 days, as state-owned oil firms reeled under soaring crude prices.
"This is the third hike in the past 10 days. They are hiking the prices gradually. Already, the financial condition of people is bad, and the rising fuel prices will make it worse," Owais Ahmad, a Srinagar resident, said.
He said while the price hike is a fallout of the West Asia cris...