Ahead of the festive season, the surge in petrol and diesel prices on a daily basis has left consumers scrambling. Petrol Monday rose to a record high of Rs 83.73 a litre while a litre of diesel is purchased for Rs 75.09 in Delhi.
This follows a 24 paise/litre and 30 paise/litre hike in prices of petrol and diesel respectively on Sunday. Petrol and diesel rates have breached the previous high of Rs 83.49 a litre and Rs 74.79 a litre as on Saturday.
Mumbaikars are the worst affected owing to this growing inflation as the petrol is heading towards Century mark in the financial capital of India. A litre of petrol in Mumbai now costs Rs 91.08 while diesel is retailing for Rs 79.72 per litre Monday.
"Petrol and Diesel prices in Delhi are Rs 83.73 per litre (increase by Rs 0.24) and Rs 75.09 per litre (increase by Rs 0.30), respectively. Petrol and Diesel prices in Mumbai are Rs 91.08 per litre (increase by Rs 0.24) and Rs 79.72 per litre (increase by Rs 0.32), respectively," according to a price notification by the Oil Marketing Companies (OMCs).
Petrol & Diesel prices in #Delhi are Rs 83.73 per litre (increase by Rs 0.24) & Rs 75.09 per litre (increase by Rs 0.30), respectively. Petrol & Diesel prices in #Mumbai are Rs 91.08 per litre (increase by Rs 0.24) & Rs 79.72 per litre (increase by Rs 0.32), respectively. pic.twitter.com/5WwFpIcbDk— ANI (@ANI) October 1, 2018
The revised prices came into effect from 6 am on October 1, 2018. However, rates vary from city to city and from a pump to pump depending on local taxes and transportation cost.
In what could be another reason of worry for households, Subsidised cooking gas (LPG) price Sunday hiked by Rs 2.89 per cylinder to Rs 502.4 per cylinder.
The price of non-subsidised LPG at Delhi will increase by Rs 59.00 per cylinder in October 2018 mainly due to change in international price and foreign exchange fluctuations, Indian Oil Corporation (IOC) said in a statement.
A combination of a dip in rupee value against the US dollar and a rise in crude oil prices has led to a spike in fuel prices since mid-August. The deadly cocktail of high oil prices and the depreciating rupee has made imports costlier and led to a surge in fuel prices. India is 81 per cent import dependent to meet its oil needs.