New Delhi: The fuel prices are on a constant rise with petrol being sold at Rs 80.50 per litre in the national capital. The price of diesel Rs 72.61 per litre seems to give no respite to the citizens of Delhi. The petrol price surged by 12 paise from 80.38 per litre and the hike in diesel price is 10 paise from Rs 72.51 per litre, according to the Indian Oil Corporation (IOC).
In Mumbai, the prices of petrol and diesel are Rs 87.89 per litre diesel Rs 77.09 per litre respectively.
Prices of non-branded petrol in metro-cities
Prices of non-branded diesel in metro-cities
(Source: Indian Oil) Prices may vary from outlet to outlet within a city
The high cost of global crude oil and a weak rupee led the petrol price in Delhi to cross a record high level of Rs 80 per litre on Saturday.
The prices of both petrol and diesel have been at their record high levels for around a week now.
According to sector experts, a weak rupee along with high excise duty have been major factors for the rise in fuel prices.
Since the start of the year, the petrol price in Delhi has risen by Rs 10.41 from Rs 69.97 a litre and the diesel price has gone up by Rs 12.81 from Rs 59.70 a litre on January 1.
Implication wise, the rise in diesel prices is expected to flare up the inflationary pressure as the fuel is primarily used to transport the majority of goods including agriculture products.
As per the country's pricing mechanism, the domestic fuel prices are dependent upon the international fuel prices on a 15-day average and the impact of the rupee-US dollar fluctuations.
(With inputs from IANS)