Diesel prices cross Rs 70-mark; Petrol prices touch new high across metro cities

The fuel prices in India touched all-time-high record on Friday, August 31, 2018, as both petrol and diesel rates witnessed a surge for the sixth straight day. Inching above the all-time cost, the petrol and diesel prices peaked to a new high across all metro cities, including Delhi, Mumbai, Chennai, Kolkata and Bengaluru.

The all-time-high petrol prices in Delhi is Rs 78.52/litre while diesel is being sold at Rs 70.21/litre on Friday. Hence, there is an increase in the Petrol price in the city by Rs 0.22/litre and in the Diesel price by Rs 0.28/litre.

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In what could be a big reason of worry for Mumbaikars, both the petrol and diesel prices in the financial capital increased by Rs 0.21/litre and by Rs 0.30/litre respectively. On Friday, Petrol can be purchased at Rs 85.93/litre while diesel is retailing at a price of Rs 74.54/litre in Mumbai.

The revised rates were made effective from 6 am on August 31, 2018. For the unserved, the fuel is cheapest in all metros and most state capitals in comparison to other cities due to lower sales tax or VAT.

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The fuel prices have been on the rise since August 16 following a record deep in rupee against the US dollar. The government, however, hopes that the rally in global rates is temporary and will go downwards anytime soon.