Petrol and diesel prices surged to record levels on Thursday as oil marketing companies (OMCs) hiked fuel rates across metro cities, except in Kolkata where rates fell following the state government’s decision of an excise cut. Petrol can be purchased at a price of Rs. 81 per litre in Delhi, according to a price notification of state-owned fuel retailers.
A litre of petrol was retailed at Rs. 88.39 in Mumbai, Rs. 824.19 in Chennai and Rs. 82.87 in Kolkata. Diesel was sold at a price of Rs. 73.08/ litre in Delhi, Rs. 77.58 per litre in Mumbai, Rs. 77.25 per litre in Chennai and Rs. 74.93 per litre in Kolkata.
Except for halts on September 5 and September 12, fuel prices have been increased almost daily across India over the past few weeks. According to experts, a weak rupee, high excise duty and expensive crude oil is pushing petrol and diesel prices to record highs under the daily dynamic pricing regime.
High global crude oil cost has become a major concern for the country which is a net importer of oil. Domestic fuel prices are dependent on international fuel prices on a 15-day average and the value of rupee, news agency Indo-Asian News Service (IANS) reported. Read More