Fuel rates hiked: OMCs increase petrol price by 29-30 paise

Fuel prices on February 28:

Fuel rates hiked:  The oil marketing companies (OMCs) hiked petrol and diesel prices for the fourth consecutive day on Friday i.e. October 8. Petrol price was hiked by 29-30 paise a litre and diesel by 35-37 paise, according to a price notification of state-owned fuel retailers.

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This sent the petrol price in Delhi to its highest-ever level of Rs 103.54 a litre and to Rs 109.54 in Mumbai. Diesel rates too touched a record high of Rs 92.12 in Delhi and Rs 99.92 in Mumbai.

In the last eleven days, petrol prices have increased by up to Rs 2.35 and diesel by up to Rs 3 per litre.

Fuel rates hiked: Prices differ from state to state depending on the incidence of local taxes.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

The relentless increase in fuel prices has been criticised by opposition parties who have demanded that the government cut record excise duty on the two fuels to give relief to consumers. The government has so far not agreed to the demand, according to news agency PTI

Oil Minister Hardeep Singh Puri on Saturday refused to even comment on the high fuel prices. Asked about the fuel prices at his ministry’s event in the national capital on Saturday, Puri said, “chodo (please leave it)” before walking away, PTI reported.

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