Petrol, diesel prices rise to fresh highs across India

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After two days of brief pause, petrol and diesel prices have been increased again on Wednesday. Petrol prices hiked by 31-35 paise per litre, while diesel prices too have surged by 33-37 paise per litre. The fresh surge in fuel prices took the petrol and diesel prices to new heights across India.

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The fresh hike in petrol and diesel prices come following the surge in crude oil prices in the international market.

Petrol price in Delhi is now 107.94 a litre, while diesel in the national capital is selling at 96.67 per litre. A litre of petrol and diesel in Mumbai are selling at 113.80 and 104.75 respectively. Mumbai became the first metro city of India to start selling petrol at 100 per litre on May 29 and now, diesel price too has crossed the century mark in the country’s financial capital.

Chennai too is selling both petrol and diesel at above 100 a litre rate. Petrol in the city is selling at 104.83 a litre, while a litre of diesel costs 100.92 in the city. In Kolkata, the petrol price on October 27 is 108.46 per litre, while per litre diesel price is slightly away from the century mark at 99.78.

Both petrol and diesel prices have been increasing incessantly for the las6t few months. This is not only hammering the motorists but non-motorists too are heavily impacted by a surge in consumer goods prices.

There have been demands to bring petrol and diesel prices under GST ambit. However, several state governments opposed the proposal fearing lose of revenue from motor fuels. The massive hike in excise duty is impacting the petrol and diesel costs in India mostly. Despite demands for reduction of excise duty, the central government has denied taking any such move.

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