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.
The prices of petrol and diesel touched a new high on Friday with Mumbai paying the maximum among the four metros. While petrol costs ₹87.39 a litre, diesel is priced at ₹76.51 a litre, an increase of 48 paisa and 55 paisa respectively over Thursday’s price.
In Delhi, the petrol price rose to a record ₹79.99 a litre, while diesel price has been increased to ₹72.07 a litre, according to the daily price notification issued by OMCs.
In Kolkata, the price of petrol has been increased to ₹82.88 per litre while the diesel price has gone up to ₹74.92 per litre. Similarly, petrol is being sold for ₹83.14 per litre in Chennai and the diesel retail price is ₹76.18 per litre.
The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹72.12 against the U.S. dollar on Thursday, while price of Brent oil was hovering around $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.
This article was first published on http://www.wakeuppost.com.