Petrol, diesel prices continue to rise, touch new high

Petrol, diesel prices continue to rise, touch new high

Nanded was not far behind - the price for a litre of petrol was Rs94.49 per litre; diesel was priced the same as in Parbhani In Mumbai, petrol touched an all-time high of Rs92.72 per litre, while diesel sold for Rs82.66 per litre.

Following today's spike, diesel is priced at Rs 75.13 per litre in Delhi and Rs 81.87 per litre in Mumbai.

On Friday, price of a litre of petrol in Delhi was at ₹85.45 while diesel cost ₹75.63 per litre.

This is the third price hike in last 20 days as oil marketing companies announced hike of Rs 0.23 for petrol and Rs 0.26 diesel per litre on January 7. Rates of petrol and diesel were increased by 25 paise for every litre. The petrol and diesel prices were hiked nearly 25 paise per litre this morning by the oil companies.

With this petrol price in Kochi increased to Rs 85.97 per litre while diesel price increased to Rs 80.14 per litre. Fuel prices, which vary from state to state depending on local sales tax or VAT, are now at record highs in the country, prompting cries for a cut in excise duty to ease the burden on consumers.

The rise in prices is mainly owing to a higher share of government taxes.

Kochi: Fuel prices have been hiked once again on Saturday.

Global oil prices are above $55 per barrel now.

"A few months back, we all were discussing about consumption-centric revival, demand-driven revival, and we were supposed to restrict our production cut, and ramp-up (of production) gradually by January".

MoF said the government will continue to monitor the impact of changes in the world crude oil prices and take appropriate measures to ensure that the welfare and well-being of the people continue to be maintained. "Otherwise, there is not much demand for crude oil in the global market", Ali Daruwalla, national spokesperson for the All India Petrol Dealers Association (AIPDA) said. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.



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