MUMBAI: The prices of petrol and diesel hiked again on Monday, hitting an all-time high in Delhi, Mumbai, Kolkata and Chennai.Fuel prices have been on the rise since August 16 as the rupee dipped rapidly against the dollar.
Petrol and diesel are on a record high, less than four months after a hike that caused an uproar across the country. Mumbai is paying the most, with petrol at Rs.86.56 a litre and diesel at 75.54 litre.
Petrol prices in Delhi rose by 31 paise a litre on Monday, diesel by 39 paise a litre. Petrol price in Delhi rose to a record Rs. 79.15 a litre, Rs.8 more than the diesel, which is also at a record high.In Kolkata, petrol is at 82.06 a litre and in Chennai, it is 82.24 a litre.
Since August 16, petrol prices have risen by over Rs 2 per litre. Diesel prices, on the other hand, have risen by Rs 2.42 a litre during this period.
Fuel prices vary from state to state due to local levies. Officials said the spike in rates is on account of the exchange rate falling to a record Rs 71 to a dollar, depreciating by Rs 2.5 in a month.
Crude oil has gained $7 a barrel in a fortnight, driven by fears that the US sanctions on Iran will likely contract supplies, reported .
Globally, oil prices fell on Monday amid rising supply from OPEC and the United States, outweighing concerns that falling Iranian output will tighten markets once US sanctions bite from November.
Union Petroleum and Natural Gas Minister Dharmendra Pradhan yesterday blamed ‘external factors’ for the rise in domestic prices of petrol and diesel, but said that the hike was temporary.