New Delhi: Petrol, diesel prices saw a steep hike on Monday amid rising global crude oil prices and weakening rupee against the US dollar. Petrol prices were hiked by 30-32 paise per litre across all metro cities while diesel became costlier by 39-42 paise per litre.
Non-branded pertol was retailing at Rs 79.15 in Delhi compared to yesterday’s price of Rs 78.84 while diesel was sold at Rs 71.15 per litre as against Rs 70.76 yesterday, according to data available on India Oil website.
It may be noted that retail fuel prices were increased for the ninth straight day on Monday.
In other metro cities like Mumbai, Chennai and Kolkata, petrol was sold at Rs 86.56, Rs 82.24, Rs 82.06 per litre respectively. Similarly, diesel was retailing at Rs 75.54, Rs75.19 and Rs 74 per litre in Mumbai, Chennai and Kolkata respectively.
Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday blamed “external factors” for the rise in domestic prices of petrol and diesel and said that the increase in temporary. Pradhan said the factors responsible for the drop in production of crude oil have caused a spike in fuel prices in India.
Fuel prices have been on the rise since August 16 after the rupee dipped to its lowest value against the US dollar. Petrol and diesel prices had gone up by almost a rupee per litre within a fortnight last month.
Considering the fact that India imports over 80 per cent of its crude oil requirement, the recent rise in crude prices, is likely to widen the country’s current account deficit further.