New Delhi: Retail fuel prices have reached their highest ever rate in most of the cities in India amid continued depreciation of rupee against the US dollar and soaring crude oil prices. Today petrol price in Delhi crossed the Rs 80 per litre mark and was retailing at Rs 80.38 compared to Rs 79.99 yesterday. Similarly, diesel was sold at Rs 72.51 in the national capital compared to Rs 72.07 on Friday.
Meanwhile, in Mumbai, petrol was retailing at Rs 87.77 per litre and diesel was sold at Rs 76.98 compared to yesterday’s price of Rs 87.39 and Rs 76.51 respectively. In other metro cities like Kolkata and Chennai, petrol was retailing at Rs 83.27 and Rs 83.54 respectively and diesel was at Rs 75.36 and Rs 76.64 respectively.
The daily rise in petrol and diesel prices have triggered fresh concerns among citizens who now have to shell out considerably higher for purchasing petrol and diesel. Not only will it put more burden on commuters but it will also take a heavy toll on industries as the operating costs would scale new heights.
Many citizens have already started criticising the government over inaction; on the other hand, the government suggests that the rise in fuel prices is due to temporary global factors, a weakening rupee and rising cost of global crude oil. It may be noted that the Indian rupee, which crossed the 72 per dollar mark earlier this week, is posing a great concern for India’s imports, especially crude oil. Other external factors such as a global weakness in trade have also led to increased prices of crude oil. However, some government officials continue to suggest that neither the increasing prices of fuel or weakening rupee should pose a grave threat to India in the long run.