Wednesday, 19 December, 2018

Petrol, diesel prices reach new high on Friday

Fuel prices again rise to record highs as rupee continues to weaken against the US dollar Reuters
Orlando Vargas | 09 September, 2018, 10:30

On Friday, petrol sold at Rs 87.39 a litre, while diesel cost Rs 76.51 a litre. In Mumbai, petrol is being sold at Rs 87.39 per litre, and diesel at Rs.76.51 per litre. In Hyderabad, petrol costs Rs 84.81 and diesel Rs 78.39.

In Chennai, petrol cost Rs 82.62 on Thursday as compared to Rs 82.41 on Wednesday.

Fuel prices have been burning bigger holes in consumers' wallets since mid-August as the continuous fall in the rupee's value against the USA dollar and high global crude prices have been pushing up pump prices.

Opposition Congress has demanded that the Centre cut excise duty as was done by previous governments, which cut rates whenever worldwide oil prices shot up.

Who plays on Thursday in the 2018 National Football League kickoff game?
However, five trips and only 12 points that's tough and that's not going to get the job done against a good team". The Eagles gained 15 yards on a third down in Falcons territory, and Jay Ajayi scored with a short touchdown run.


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The bottom appears to have fallen out of the cryptocurrency market with Bitcoin losing nearly $1,000 in just twenty four hours. Goldman Sach has explained that they are now focused more on other digital-coin services, such as a custody product.


State-owned oil marketing companies (OMCs) have again increased the price of sensitive petroleum products such as petrol and diesel in the country on Friday. In Delhi, petrol costs Rs 79.99 and diesel Rs 72.07.

State-owned oil firms had in June past year discarded the policy of changing fuel rates on the first and 16th of every month, and resorted to daily price revision instead. Prices of petrol and diesel which were continuously hiked for the last ten days till September 4, remained unchanged on Wednesday, September 5.

On Tuesday, former Finance Minister P Chidambaram had stated that the "Relentless rise in prices of petrol and diesel is not inevitable".

The weakening of the rupee against the U.S. dollar has contributed to the continually rising fuel prices. Additionally, prices in Delhi are the cheapest among all metros mainly due to lower Value-Added Tax rates, and Mumbai has the highest Value-Added Tax on petrol at 39.12%.

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