Fuel price continue to soar, hit record high at Rs 85 per litre in Mumbai

Fuel prices hiked for the tenth consecutive day across the country, with petrol price moving closer to Rs 85 per litre in Mumbai. Selling price of diesel in Mumbai was Rs 72.76 per little on Wednesday.

With fears about increase in global crude prices, which have already surpassed their highest levels since 2014, domestic fuel prices are also hit record highs on Wednesday with petrol prices hiked by 29-32 paise and diesel prices by 26-28 paises across the metro cities.

Petrol prices were Rs 77.17 per litre in Delhi, Rs 80.11 per litre in Chennai, Rs 79.83 per litre in Kolkata and Rs 84.99 per litre in Mumbai.

Diesel was up to Rs 68.34 per litre in Delhi, Rs 72.14 per litre in Chennai, Rs 70.89 per litre in Kolkata and Rs 72.76 per litre in Mumbai.

Earlier, Assocham and FICCI had appealed to the government to immediately cut down the fuel excise duties.

Bharatiya Janata Party (BJP) chief Amit Shah on Tuesday said the government will soon announce measures to tackle the rising fuel prices. The government had raised the excise duty nine times between November 2014 and January 2016 even as global crude prices fell. The tax was only reduced once in October 2017 by Rs 2 per litre.

Petrol and diesel prices are revised daily, and this practice by oil companies have been in practice since June 2017.