Petrol, diesel prices continue upward march

PTI5_30_2018_000120B [File] An employee updates fuel prices display board at a petrol pump | PTI

Citizens are yet to witness a relief in terms of purchasing fuel, as state owned oil marketing companies (OMCs) increased the price of petroleum products like petrol and diesel in the country on Sunday.

The prices of petrol and diesel touched a new high on Sunday with Mumbai paying the maximum among the four metros.

In Mumbai, the price of petrol has mounted to nearly Rs 90 per litre, while diesel is retailing at Rs 78.26 per litre respectively.

Petrol in New Delhi is being sold 28 paise higher at Rs 81.91 per litre, and diesel at Rs 73.72 per litre after a hike of 18 paise.

The fuel prices are likely to go up further as price of Brent oil was still hovering over $78 a barrel while Indian rupee is pegged around 72 against US Dollar.

India imports about 80 per cent of its crude oil, and the falling rupee will make the imports costlier and lead to a rise in fuel prices.

The rising prices of fuel come less than a week after the Congress Party and 21 other regional and national parties observed a 'Bharat Bandh' on account of the consistent rise in fuel prices and urged the government to take necessary steps to reduce citizens' woes.

However, the Centre has maintained that external factors, including a rise in international crude oil prices, are influencing domestic fuel prices.

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