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Fuel prices hiked for 10th day in a row

Petrol hike

New Delhi: Fuel prices in the country touched the highest levels on Tuesday by continuing the record-breaking run for the 10th day. Oil Marketing Companies (OMCs) increased the fuel rates yet again.

Diesel prices went up by nearly 20 paise and petrol by 16 paise. With this, in the last month, petrol prices increased around Rs 2.50 per litre and diesel by Rs 3 per litre.

According to price notification of state-owned fuel retailers’ prices of petrol and diesel in Delhi rose to Rs 79.31 per litre and Rs 71.34 respectively.

A litre of petrol is selling at Rs. 86.72 in Mumbai, Rs. 82.41 in Chennai and Rs. 82.22 in Kolkata. Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT (Value Added Tax).

Fuel prices vary from state to state due to local levies. Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT.

The surge in fuel prices is large because of the recent rise in crude oil cost and the high excise duty levied on transportation fuel in the country. The fall in Indian currency also affects fuel rates, it is learnt.

Notably, petrol in our neighbouring counties currently retail at – Rs 50.67 in Pakistan, Rs 49.67 in Sri Lanka and Rs 66.69 in Nepal.

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