Fuel Prices Hiked For Sixteenth Consecutive Day; Petrol Price Crosses Rs. 78 In Delhi

Fuel prices in the country continue to touch yet another peak for the 16th consecutive day, as petrol is being sold at Rs. 78.43 per litre in Delhi while Mumbai retails it at Rs. 86.24 per litre. The cost of diesel per litre has also been increased to Rs. 69.31 per litre in the national capital and Rs. 73.79 a litre in Mumbai. As the Centre has come under the fire over fuel price hike since the past three weeks, Union Petroleum and Natural Gas Minister Dharmendra Pradhan had earlier assured the public that the government will soon take out a solution to tackle this situation.

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The Indraprastha Gas Limited (IGL) announced an increase in the prices of Compressed Natural Gas (CNG) as well, as the CNG price in the national capital was hiked by Rs. 1.36 per kg as input raw material got costlier because of rupee depreciation and rise in natural gas price. In adjoining Noida, Greater Noida and Ghaziabad, rates were increased by Rs. 1.55 to Rs. 48.60 per kg. IGL said it will continue to offer a discount of Rs. 1.50 per kg in the selling prices of CNG for filling between 12.30 am to 5.30 am at select outlets.

In a statement released by IGL, it said that the increase would have a marginal impact on the per km running cost of vehicles. For autos, the increase would be 4 paise per km, for taxi it would be 7 paise per km and in case of buses, the increase would be nearly 40 paise per km. "With the revised price, CNG would still offer over 60 per cent savings towards the running cost when compared to petrol driven vehicles at the current level of prices. When compared to diesel driven vehicles, the economics in favor of CNG at revised price would be nearly 40 per cent," the statement added.

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In April, Pradhan had said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.