Fuel price hike: Petrol, diesel prices breach record levels on Friday

Fuel price hike: Petrol, diesel prices breach record levels on Friday

A litre of petrol in Delhi now costs Rs 79.99 - a record high.

In Mumbai, a litre of petrol costs Rs 87.39 while diesel costs 76.51.

In 2018, petrol prices are up by about 14% while diesel is up a fifth. On Friday, the oil marketing companies increased the prices of petrol by 48 paise and that of diesel by 52 paise per litre in Delhi.

Opposition Congress has demanded that the Centre cut excise duty as was done by previous governments, which cut rates whenever worldwide oil prices shot up. Diesel cost Rs 75.96 in the country's commercial capital, compared to Rs 75.74 on Wednesday.

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On May 28, the diesel rates touched Rs 69.31 per litre which was considerably higher than the previous. On September 5, Finance Minister Arun Jaitley, too, said that the global oil prices remained volatile and have not shown any linear movement and hence, the government remains non-committal on cutting excise duty, reported the daily.

The weakening of the rupee against the USA dollar has contributed to the continually rising fuel prices.

The relentless price hike has once again brought the question of the government cutting excise duty to the fore.

Petrol pump operators said over the past 10 days, the maximum fuel prices rose to was 42 paise a litre. Also, crude oil prices have gained $7 a barrel in a fortnight. For petrol prices, there has been a surge of over Rs 3 per litre since August 5. On the other hand, in Chennai, petrol is at Rs 83.13 and diesel at Rs 76.17 A Mumbai resident told news agency ANI, "The middle-class and poor are suffering every day due to hike in fuel prices".

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