LPG prices were hiked by Rs. 2.89 per cylinder to Rs. 502.4 per cylinder and the non-subsidised LPG costs at Delhi were increase by Rs. 59.00 per cylinder for October 2018.
NEW DELHI: Fuel prices continue its record breaking upward move with Oil Marketing Companies (OMCs) further increasing the petrol and diesel prices across the country.
In the national capital rates of petrol and diesel was increased by Rs 0.24 and Rs 0.30 respectively. In Maharashtra petrol rates in some districts have even crossed Rs 92 mark making it the highest in the country.
Petrol and diesel prices continued the upward trend, as in Delhi petrol is currently being sold at Rs 83.73 a litre. In Mumbai it is 91.08 per litre. The price of Diesel in Delhi is Rs 75.09 per litre, whereas in Mumbai it is Rs 79.72 per litre.
While petrol costs Rs 85.54 a litre in Kolkata, Rs 84.39 in Bengaluru and Rs 87.04 in Chennai diesel prices moved to Rs 76.94, Rs 75.47 and Rs 79.38 in these cities.
Prices of compressed natural gas in Delhi has also witnessed a hike by Rs 1.70/kg, bringing the new price to Rs 44.30/kg. After a price revision, subsidised LPG cylinders will now cost Rs 502.4 per cylinder.
As per the data released by the oil marketing companies, petrol prices have witnessed a hike of 8 per cent while diesel rates have gone up by 10 per cent since August 1, 2018.
Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday reiterated that the spike in the price of petrol and diesel in the country was because of the depreciation in the value of the Indian Rupee against the US dollar.
Dharmendra Pradhan also said one of the reasons behind the rise could be the decrease in the production of oil in the countries that produce them.
The fuel prices are likely to rise further as price of Brent oil was still hovering over $82 a barrel while Indian Rupee was pegged to 72.5 per US Dollar.
With the daily revision of fuel price in India, the petrol and diesel prices are increased day-by-day and as a result, the prices are hitting a new high in several cities.
Yes, there will be no surprise if the petrol price crosses Rs 100 mark. The government should take necessary steps to reduce the price of petrol and diesel.
