Petrol, Diesel Prices All-Time Highs; Mumbai and Hyderabad Worst-Hit. The policy of dynamic daily price revision of petrol and diesel adopted by the Centre, the recent hike in domestic fuel price is indeed not good news but perhaps not surprising. Many economists are of the view that rising oil prices have started burning holes in the common man’s pocket.
Petrol, Diesel Prices All-Time Highs:
Petrol price today touched a record high of Rs. 76.24 per liter and diesel climbed to its highest ever level of Rs. 67.57 as the oil PSUs passed on four weeks of the relentless rise in international oil prices to consumers.
Petrol price today increased by 33 paise a liter in Delhi, the highest since the daily price revision came into force in mid-June 2017, and diesel by 26 paise.
This is the 7th straight day of price increase since oil PSU’s on May 14 resumed daily price revision following a 19 day pre Karnataka poll hiatus. In all, petrol price has been raised by Rs. 1.61 a liter and diesel by 1.64 in last one week.
In India, petrol is the costliest in Mumbai where high local taxes has led to a price of Rs. 84.07 per liter. Petrol has breached Rs. 80 mark in Bhopal (Rs. 81.83 a liter), Patna (Rs. 81.73), Hyderabad (Rs. 80.76) and Srinagar (Rs. 80.35), according to the prize notification.