Petrol, diesel price on 29th August 2018: Check out rates in metro cities

New Delhi: Petrol and Diesel prices were hiked in four metro cities.

Petrol prices on Wednesday settled at Rs 78.18 a litre and diesel rates scaled a new high of Rs 69.75 per litre in the national capital. The price of petrol had crossed the Rs 78 per litre mark in Delhi for the first time in more than two-and-half-months on Tuesday.

Petrol price was hiked by 13 paise and diesel by 14 paise. Fuel prices in Delhi are the cheapest in all metros and most of state capitals due to lower sales tax or VAT.

Diesel prices hit their highest level, crossing the previous peak of Rs 69.31 a litre reached on May 29. Petrol rates are however lower than the peak hit on May 29 when they touched Rs Rs 78.43 a litre in Delhi.

Fuel prices have been on the rise since August 16 after the rupee dipped to its lowest value against the US dollar. The domestic unit hit a record low of 70.32 in early trade that day.

State-owned oil firms had in mid-June last year dumped the 15-year practice of revising rates on 1st and 16th of every month in favour of daily price revisions. 

The increase in the price of petrol and diesel is being leveraged to the public exchequer. But, the burden on the common man's pocket is constantly increasing. The Modi government had talked of the long-term solution of petrol and diesel in the month of June, but till now no relief was given to the common man.

At the international level, prices of crude oil are recovering again. Crude oil prices have seen tremendous momentum in the past one week. In such a situation, crude oil prices have increased by up to 5%. Due to the ongoing economic crisis in Turkey, rupee is declining. In such cases, oil companies have to spend more to import crude oil.

Prices of non-branded petrol in metro-cities

Cities	(Rs/litre)
New Delhi	78.18
Kolkata	81.11
Mumbai	85.59
Chennai	80.59

Prices of non-branded diesel in metro-cities

Cities	(Rs/litre)
New Delhi	69.75
Kolkata	72.59
Mumbai	74.04
Chennai	73.84

(Source: Indian Oil) Prices may vary from outlet to outlet within a city