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Fuel prices hiked again; petrol now costs Rs. 86.91/litre in Mumbai -Piyush Pandey

-The Hindu

The falling Indian rupee will make oil imports costlier and lead to a rise in fuel prices

Mumbai:
After holding on for a day, the State-owned oil marketing companies (OMCs) again increased the price of petroleum products such as petrol and diesel in the country on Thursday.

The prices of petrol and diesel touched a new high on Thursday with Mumbai paying the maximum among the four metros. While petrol costs ?86.91 a litre, diesel is priced at ?75.96 a litre in Mumbai.

In Delhi, the petrol price has been risen to a record ?79.51 a litre, while diesel price has been increased to ?71.55 a litre, which is also at a record high, according to the daily price notification issued by OMCs.

In Kolkata, the price of petrol has been increased to ?82.41 per litre while the diesel price has gone up to ?74.40 per litre. Similarly, petrol is being sold for ?82.60 per litre in Chennai and the diesel retail price is ?75.61 per litre.

The fuel prices are likely to go up further as the rupee hit yet another all-time low of ?71.96 against the U.S. dollar on Wednesday, while price of Brent oil increased to $78 a barrel.

India imports about 80% of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices.

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