Fuel prices in the country touched their highest levels Sunday, September 30, 2018, mainly due to the dramatic fall in rupee and a sharp rise in crude oil rates. Petrol price in Delhi rose to a record Rs 83.49 a litre and diesel climbed to a fresh high of Rs 74.79, according to a price notification of state-owned fuel retailers.
This follows a 09 paise/litre and 0.16 paise/litre hike in prices of petrol and diesel respectively on Sunday. Petrol and diesel rates have breached the previous high of Rs 83.40 a litre and Rs 74.63 a litre as on Saturday.
Mumbaikars too get no respite from the squirrelling fuel prices and are paying a whopping amount of Rs 90.84 for a litre of petrol Sunday. Diesel, on the other hand, is retailing at Rs 79.40 per litre in the financial capital - Mumbai. Hence, there is a respective surge of Rs 0.09 and Rs 0.17 in the petrol and diesel prices in the city.
"Petrol and Diesel prices in Delhi are Rs 83.49 per litre (increase by Rs 0.09) and Rs 74.79 per litre (increase by Rs 0.16), respectively. Petrol and Diesel prices in Mumbai are Rs 90.84 per litre (increase by Rs 0.09) and Rs 79.40 per litre (increase by Rs 0.17), respectively," the news agency ANI reported.
Petrol & Diesel prices in #Delhi are Rs 83.49 per litre (increase by Rs 0.09) & Rs 74.79 per litre (increase by Rs 0.16), respectively. Petrol & Diesel prices in #Mumbai are Rs 90.84 per litre (increase by Rs 0.09) & Rs 79.40 per litre (increase by Rs 0.17), respectively. pic.twitter.com/Ui1bs1ronH— ANI (@ANI) September 30, 2018
The Oil Marketing Companies (OMCs) has made the latest prices effective from 6 am on September 30, 2018.
Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT. Maharashtra charges the highest VAT on the petrol and diesel at a little over 39 per cent, including the recent surcharge on the fuel prices.
Since August 16, the fuel retail prices have been going up owing to the rising crude oil prices and the plummeting rupee on a daily basis. Early September, the rupee lost 67 paise against the dollar to touch an all-time low of 72.51.
In 2018, the rupee lost over 13 per cent against the greenback while crude has gained over 35 per cent year-to-date.