Fuel Prices Hike for 11th Consecutive Day

Fuel Prices Hike for 11th Consecutive Day

The price of regular petrol crossed the Rs 90 mark for the first time in Delhi on Friday and diesel prices too made a record as high taxes (excise duty and VAT or value-added tax) on transportation fuels increased the impact of rising crude prices.

Petrol and diesel prices continued their unchecked upward rally for the 11th successive day across the country as state-run state-controlled oil marketing companies (OMCs) raised prices of petrol and diesel by 27-35 paise per litre across major cities of the country today. It is worth noting that a sharp jump in global prices of crude has triggered the current wave of domestic auto fuel price hikes.

Following today's hike, petrol prices in Delhi peaked to Rs 90.19 (31 paise increase) a litre as against Rs 89.88 on Thursday while diesel price soared to Rs 80.60 per litre as compared to Rs 80.27 a litre on Thursday, as per data from Indian Oil Corporation website. In the last 11 days, the price has gone up by Rs 3.26 per litre for petrol while diesel rate has risen by Rs 3.81 a litre in the national capital region. 

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