Fuel Prices: Petrol and Diesel Rates Hiked Nationwide

Petrol prices in the UK increase

Fuel prices were last hiked 19 days ago.

In Calcutta, petrol will cost Rs 77.50, up from Rs 77.32, a litre and diesel Rs 66.68, compared with Rs 66.63 earlier.

Petrol and diesel prices today were hiked by 22-24 paise per litre across Delhi, Kolkata, Mumbai and Chennai. With this, the price of petrol in Delhi inched further close to the previous high of Rs 76.06 a litre, reached in September 2013.

The oil marketing copanies (OMCs) IOC, BPCL and HPCL got on with hiking petrol prices from Monday onward, for the first time since April 24 after the conclusion of the Karnataka election voting.

Similarly, diesel and kerosene will each cost Rs 92 per litre within 15-kilometre distance in Kathmandu Valley and Rs 91.50 per litre in Dang and Pokhara respectively.

In the finance capital Mumbai, the petrol costs Rs 83.16/litre.

GETTYFuel prices have hit their highest level since August 2016 claim
GETTYFuel prices have hit their highest level since August 2016 claim

In addition, the high rate of excise duty has also contributed to the rise in prices.

Global crude prices had been rising over fears that the sanctions by the USA on Iran, one of the biggest producers in the Middle East, could limit crude exports from the country.

Oil marketing companies were under pressure to pass on the impact of an increase in crude oil process due to their mounting losses.

The Rs4 per litre petrol hike is based on the assumption that global prices of diesel and petrol and rupee-dollar exchange rate remain stable hereon. Mumbai becomes the most affected city in India when it comes to fuel price hike.

For a diesel auto with the same sized tank will cost £9 more to fill than it did back in August 2016, when fuel prices were just 111.9p per litre.


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