After holding on for a day, the State-owned oil marketing companies (OMCs)) again increased the price of petroleum products such as petrol and diesel in the country on Thursday.
The prices of petrol and diesel touched a new high on Thursday with Mumbai paying the maximum among the four metros. While petrol costs ₹86.91 a litre, diesel is priced at ₹75.96 a litre in Mumbai.
In Delhi, the petrol price has been risen to a record ₹79.51 a litre, while diesel price has been increased to ₹71.55 a litre, which is also at a record high, according to the daily price notification issued by OMCs.
In Kolkata, the price of petrol has been increased to ₹82.41 per litre while the diesel price has gone up to ₹74.40 per litre. Similarly, petrol is being sold for ₹82.60 per litre in Chennai and the diesel retail price is ₹75.61 per litre.
The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹71.96 against the U.S. dollar on Wednesday, while price of Brent oil increased to $78 a barrel.
India imports about 80% of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices.
State-owned oil firms had in mid-June last year dumped the 15-year practice of revising rates on the first and 16th of every month.
India imported crude oil worth ₹2,640,30 crore (over $39 billion) between April and July 2018, according to the data by the Petroleum Planning and Analysis Cell.
