Crude Oil Prices Rise Every Year. So Why Did You Pay More for Petrol, Diesel in 2018


Crude Oil Prices Rise Every Year. So Why Did You Pay More for Petrol, Diesel in 2018

Petrol prices this year breached the Rs 80-mark for the first time, touching an all-time high of Rs 84 per litre on October 4 in the national capital.

In Mumbai, too, petrol was sold at a lifetime high of Rs 91.34 the same day, crossing the Rs 90-mark for the very first time. Similarly, diesel prices in Delhi, Kolkata, Mumbai and Chennai saw unprecedented highs of Rs 75.69, Rs 77.54, Rs 80.1 and Rs 80.04 per litre, respectively.

The government at the Centre attributed the increase to a rise in crude oil prices in the international market and a weakening rupee against the US dollar.

While crude did soar this year, an analysis by News18.com of the average fuel prices in the country with average crude prices reveals that rates of petrol and diesel had remained lower in previous years even when crude oil was being sold at a much higher price. Read More

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