Fuel Prices Continue to Soar, See Further Hikes

Representational image.

(Photo: IANS)

Fuel prices continue to rise steadily, with the price of petrol being hiked by 18 paise per litre and diesel by 29 paise per litre in Delhi. Petrol is now retailing at Rs 82.66 in Delhi, while the price of diesel touched Rs 75.19 on Saturday, 13 October, reported ANI.

In other cities, such as Mumbai, Kolkata and Chennai, petrol rates rose to Rs. 88.12, Rs. 84.48 and Rs. 85.92 respectively, with effect from 6 am on Saturday, according to NDTV.

On Friday, 12 October, Prime Minister Narendra Modi held a review meeting with Finance Minister Arun Jailtey and Petroleum Minister Dharmendra Pradhan. The meeting reportedly focussed on petroleum issues and increasing domestic oil production, according to IANS.

On 4 October, the central government had announced a cut of Rs. 2.50 per litre for petrol and diesel. It had also urged state governments to match the reduction in prices, reported NDTV.

The Opposition has been blaming the government for not keeping an adequate check on fuel prices, but the government has claimed that the steep rise is because of global crude oil prices and other international factors, reported ANI.

In September, the monthly diesel consumption showed a fall for the first time in 10 months year-on-year. In the same month, petrol sales grew by the least in four months due to the record high price, according to Reuters.

Petrol pump dealers in the national capital have also announced a strike on 22 October, in protest against Delhi government’s refusal to reduce value added tax on diesel and petrol. Petrol pumps in the capital will remain closed as a mark of protest, reported The Times of India.

(With inputs from NDTV, The Times of India and ANI.)