Fuel Prices Hiked For Tenth Consecutive Day; Petrol Price Crosses Rs. 77 In Delhi

Fuel prices have been hiked for the tenth consecutive day across the country, with price of petrol just below Rs. 85 per litre in Mumbai. Diesel in the country's financial capital is selling for Rs. 72.76 per litre on May 23. With fears about rising global crude prices, which have already hit their highest levels since late 2014, domestic fuel prices are at record highs on Wednesday with petrol prices hiked in the range of 29-32 paise across the metros and diesel prices hiked by 26-28 prices.

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As of 6 am today, petrol prices were Rs. 77.17 per litre in Delhi, Rs. 79.83 per litre in Kolkata, Rs. 80.11 per litre in Chennai and Rs. 84.99 per litre in Mumbai. Diesel now costs Rs. 68.34 a litre in Delhi, Rs. 70.89 a litre in Kolkata, Rs. 72.14 per litre in Chennai and Rs. 72.76 per litre in Mumbai. With no respite in sight from the rising fuel prices, commuters are likely to suffer across the country.

Earlier this week, industry bodies FICCI and Assocham had appealed to the government to urgently reduce fuel excise duties. Ruling Bharatiya Janata Party (BJP) president Amit Shah said on Tuesday that the government will soon announce measures to deal with the rising fuel prices. The government had raised excise duty nine times between November 2014 and January 2016 even as global crude prices fell, but the tax was reduced only once in October last year by Rs. 2 a litre. Currently, petrol and diesel prices are revised on a daily basis, and this practice by oil marketing companies has been in place since June 2017.

Fuel Prices on May 23 across four metros: