Petrol Hits 83-rupee Mark in Delhi

The capital city of India saw a new high in terms of petrol prices when the fuel crossed the 83-rupee mark on Thursday, September 27, 2018. In Mumbai, the price had already crossed the Re. 90 per litre mark earlier in the week and was currently retailing at Rs. 90.35 per litre as of today. Chennai and Kolkata saw slight increases of almost 15 paise as the per-litre petrol price went from Rs. 86.13 to Rs. 86.28, and Rs. 84.68 to Rs. 84.82, respectively. These are the highest the prices of petrol have ever been in these cities.

Diesel prices also saw an increase to their highest ever, sparking concerns that inflation on everyday commodities was just around the corner. Increases were between 6 and 13 paise per litre across the four metro cities, with Delhi recording the lowest of these at Rs. 74.24, up from Rs. 74.12 from the day before. Mumbai saw a 13 paise rise in diesel prices, going from Rs. 78.69 to Rs. 78.82. Chennai and Kolkata featured retail diesel prices of Rs. Rs. 78.42 and Rs. 76.09, up from Rs. 78.36 and Rs. 75.97.

India is experiencing rising fuel costs even as some states have attempted to mitigate the potential impact by reducing state taxes on these fuels by one or two rupees per litre. However, it is believed that external forces are putting the most pressure on prices of diesel and petrol, as crude oil prices have risen, posing some difficulty to this country and its consumers because most of the crude oil that is refined into these fuels is imported.