New Delhi: The prices of petrol and diesel have further gone up for an eight consecutive day on Sunday. The price of petrol in Delhi increased by Rs 0.16/litre and is now at Rs 78.84/litre. On the other hand, the price of diesel is at Rs 70.76/litre and it increased by Rs 0.34/litre.
In Mumbai, the price of petrol is at Rs 86.25/litre while the price of diesel is at Rs 75.12/litre. The price of petrol increased by Rs 0.16/litre and the price of diesel increased by Rs 0.36/litre.
On Friday, the price of diesel touched new heights in Delhi and reached Rs 70.21/litre while the petrol price was at Rs 78.52/litre. The surge in fuel prices was largely due to the rise in the cost of crude oil and the high excise duty levied on the transportation of fuel in the country.
The fuel is cheapest in all metros and most state capitals due to lower sales tax or VAT.
With petrol and diesel prices seeing a steady rise, the government had on last week hoped that the rally in global rates is temporary and will decline soon. India imports bulk of its oil requirement.
Fuel prices have been on the rise since August 16 after the rupee dipped to its lowest value against the US dollar. 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.