The fuel prices scaled to new highs with 13 paise hike in both petrol and diesel across the country. Petrol prices in Delhi touched Rs 83.00 per litre, while it is priced Rs 90.35 in Mumbai.
MUMBAI: The fuel prices in the country touched new heights on Thursday, as the petrol price has surged yet again and is retailed at Rs 90.35 per litre and diesel is being sold at Rs 78.82 per litre in Mumbai.
Today, in Mumbai, the prices of petrol and diesel were increased by 13 paise and 12 paise respectively. Prices of petrol and diesel have been on a rise since mid-August, rising almost every day due to a combination of a drop in the dollar-rupee and rise in crude oil prices.
The fuel prices continue to rise as petrol crossed Rs 83 per litre and diesel touched Rs 74.24 mark in Delhi on Thursday.
In other metro cities of the country including Kolkata, Bengaluru and Chennai, a litre of petrol is being sold at Rs 84.90, Rs 83.74 and Rs 86.36 respectively.
The domestic fuel prices, as per India’s pricing mechanism, depend upon the international fuel prices on a 15-day average and the value of the Indian rupee.
The continuous depreciation of India rupee against the US dollar has been touted as one big reason behind the soaring fuel prices.
Meanwhile, Oil prices rose by 1 percent on Thursday as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November.
