Petrol and diesel prices continue to soar high on Monday across India as the price of Brent crude oil rose to their highest since November 2014 ahead of US sanctions against Iran. Petrol price breached Rs 91 per litre and is retailing at Rs 91.08 in Mumbai, while diesel rates are inching closer to Rs 80 in the financial capital. Diesel prices rose by 32 paise and is being sold at Rs 79.72 on Monday in Mumbai.
In Delhi, petrol and diesel prices—the lowest among the metros—are at Rs 83.73 and Rs 75.09, respectively. In Kolkata, petrol and diesel are being sold at Rs 85.53 and Rs 76.94, while in Chennai, the rates are at Rs 87.05 and Rs 79.40, respectively.
The domestice fuel prices are on a northward spiral following rising crude oil prices and depreciation of the Indian rupee. Meanwhile, in more bad news for consumers, the prices of subsidised cooking gas were increased on Sunday. LPG prices were hiked by Rs 2.89 per cylinder to Rs 502.4 per cylinder.
The price of non-subsidised LPG at Delhi will increase by Rs 59.00 per cylinder in October 2018, mainly due to change in international price and foreign exchange fluctuations, Indian Oil Corporation (IOC) said in a statement.
However, the actual impact on subsidised domestic LPG customers is only Rs 2.89 per cylinder, which is mainly due to GST on the above, IOC added.
The subsidy transfer in customers' bank account has been increased to Rs 376.60 per cylinder in October 2018, as against Rs 320.49 per cylinder in September 2018.
"Thus the domestic subsidised LPG customer is protected against the increase in prices of LPG," it said.
(With inputs from PTI)
