Fuel prices hiked for 9th straight day, petrol touches Rs. 90 in Kolkata!

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Petrol price has increased Rs. 90 in many cities including Kolkata, Chennai, Bengaluru, Bhubaneshwar, Hyderabad, Jaipur, Patna, and Thiruvananthapuram. In Delhi, the value of petrol now stands at Rs. 89.54 per litre, while in Mumbai it’s touched Rs. 96 for the primary time ever.

Oil marketing companies (OMCs) have everywhere again hiked petrol and diesel prices across the country on Wednesday. Petrol and diesel prices are raised by roughly 25 paise each, marking the ninth consecutive day of hike in fuel prices.

 

Diesel rates have also seen a pointy rise over the past nine days. In Kolkata, the worth of diesel now stands at Rs 83.54 per litre, while it’s almost touched Rs. 87 in Mumbai. It’s also crossed Rs. 85 in Chennai for the first time.

Gasoline rates within the country have increased run over Rs. 2 per litre each within the newest round of hike.

 

The purpose behind the increase in fuel prices in India is that the firming of worldwide crude rates. Global petroleum rates have mostly crossed $60 per barrel and expected to rise further as demand gets stronger. This together with high fuel taxes in India has pushed petrol and diesel rates within the country to record high levels.

While the sharp rise in fuel and LPG prices has attracted criticism from citizens also as opposition parties within the country, the chances of a discount of central taxes on fuel are unlikely at the moment.