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Petrol and diesel prices continued to jump once again today following yet another round of price hike by oil retailers.

In Maharashtra’s Parbhani, where petrol commands the highest price in India due to VAT and transportation cost, the rate has reached Rs 91.99 a litre. In Mumbai, it is already above the Rs 90 mark while in Delhi petrol is touching Rs 83.

Prices of both petrol and diesel, on the rise since August on account of soaring global crude oil rates and a declining rupee exchange rate, are at an all-time high.

A litre of petrol now costs Rs 90.22 a litre in Mumbai, diesel Rs 78.69. In Delhi, petrol is priced at Rs 82.86, diesel costs Rs 74.12. In Bangalore or Bengaluru, petrol price is Rs 83.52 and diesel is Rs 74.50. In Chennai, petrol price is Rs 86.13 and diesel Rs 78.36. In Hyderabad, petrol is Rs 87.84 and diesel Rs 80.62. In Kolkata, petrol is priced at Rs 84.68 and diesel Rs 75.97.

India imports about 80% of its crude oil requirement. International crude oil rates have been on the upswing since the last few months. The benchmark Brent crude oil prices have crossed $81 per barrel, a 30% jump from February. The falling exchange rate of rupee has made the matter worse for India. Rupee is now trading above 72, an all-time low against the US dollar.

Last modified on Tuesday, 25 September 2018

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