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11 Days 11 Hikes: Petrol And Diesel Prices Rise Once Again

NEWS WORLD INDIA | 0
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| May 25 , 2018 , 12:18 IST

Petrol and diesel prices across the country continued to climb by the range of 19-31 paise per litre, marking the 11th straight day of hikes in the fuel prices. This is happening because the petrol and diesel prices are broadly determined on the basis of crude oil price in the international market and on the rupee-dollar exchange rates.

According to the analysts, the continuous increase in petrol and diesel prices is related to the weakening of the rupee against the US dollar.

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Currently, the fuel prices are varying from state to state as the prices of fuel and diesel also depend on the local sales tax or VAT (value added tax).

Presently, petrol and diesel prices hike is mainly in the Delhi, Mumbai and Chennai cities.

These are the fuel prices hike in these cities in 11 days:

Thursday's increase included petrol prices have been raised by Rs. 2.84 per litre in Delhi, Rs. 2.8 per litre in Kolkata, Rs. 2.81 per litre in Mumbai and Rs. 2.99 per litre in Chennai in 11 days, data shows. Diesel prices have been increased by Rs. 2.6 per litre, Rs. 2.45 per litre, Rs. 2.76 per litre and Rs. 2.79 per litre respectively.

The HPCL Chairman and Managing Director Mukesh Kumar Surana said earlier that there is an immediate need to review the taxation on petrol and diesel to provide relief to consumers as the fuel price hike has become as a burn hole in the pocket of consumers.

The Opposition has termed this as another attempt by the Centre to "fool the people".