Petrol, diesel prices hit record high for 10th consecutive day

Petrol Price

New Delhi, Sep 4 : Petrol and Diesel breached record levels for the 10th straight day on Tuesday,  the people across the country have condemned the Narendra Modi- led government for the continuous increase in the fuel prices.

The consistent hike in fuel prices has led the opposition parties to blame the Modi government for mismanagement. Former finance minister P Chidambaram on Monday asked the government to bring petrol and diesel under GST.

Petrol prices were up by 16 paise to Rs 79.31 per litre in Delhi, while diesel rates saw a jump by 19 paise to Rs.71.34 per litre.

Fuel prices vary from state to state due to local levies.

Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT.

In Mumbai  one litre of Petrol is Rs 86.72, Chennai Rs 82.41 and Kolkata 82.22.

Diesel costs  Rs 75.74/litre in Mumbai, Rs 75.39/litre in Chennai and Rs 74.19/litre in Kolkata, according to daily price notification by oil marketing companies.

Andhra Pradesh Chief Minister N. Chandrababu Naidu has blamed the Narendra Modi government for the spike. “Petrol will soon cost Rs 100. They are going to hit a century. And, the rupee will also touch the century mark. You can then buy petrol paying a dollar,” he said.

The Indian rupee hit a new all-time low of 71.37 per dollar on Tuesday tracking a similar trend among its global peers and amid concerns of trade war escalation.

It opened at 71.24 per dollar surpassing the previous low of 71.21 per dollar, at which it had closed on Monday.

The dollar strengthened against some currencies overseas while high crude oil prices and consistent outflow of foreign funds also weighed on the Indian currency amid tensions over global trade and strains in emerging market currencies.

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