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

In 2018 petrol prices are up by about 14% while diesel is up a fifth

For petrol prices, there has been a surge of over Rs 3 per litre since August 5.

Since mid-August, petrol price has risen by Rs 2.85 a litre and diesel by Rs 3.3 per litre as rupee hit record low against the USA dollar, making imports costlier.

Petrol and diesel price were Friday hiked by about 50 paisa per litre each - the steepest increase in rates since daily price revision came into effect over 14 months back - to push rates to their highest ever. In Mumbai, petrol is being sold at Rs 87.39 per litre, and diesel at Rs.76.51 per litre.

In Kolkata, the price of petrol has been increased to Rs 82.41 per litre while the diesel price has gone up to Rs 74.40 per litre. Diesel is now priced at Rs 72.07 a litre in Delhi and Rs 76.51 per litre in Mumbai. In Hyderabad, petrol costs Rs 84.81 and diesel Rs 78.39.

In Chennai, petrol cost Rs 82.62 on Thursday as compared to Rs 82.41 on Wednesday.

The fuel prices have been on fire since the beginning of August due to rising crude oil prices and low value of rupee against the United States dollar.

State-owned oil marketing companies (OMCs) have again increased the price of sensitive petroleum products such as petrol and diesel in the country on Friday.

According to Press Trust of India (PTI) report, opposition parties will organize nationwide strikes and protests next on September 10 over record-high fuel prices.

The Congress has made a decision to call a nationwide bandh on Monday, September 10 over the issue of rising fuel prices. Diesel price rose from Rs 74.19 per litre to Rs 74.40.



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