New Delhi: The fuel prices on Tuesday went further up with prices petrol and diesel settling at Rs 71.27 and Rs 65.90 respectively in the national capital. In Mumbai, petrol is being sold at Rs 76.90 while the price of diesel is Rs 69.01.
Petrol in Delhi increased by 13 paisa and diesel by 19 paisa as compared to Monday. On the other hand, in Mumbai, there has been a hike of 13 paisa in the petrol price and 20 paisa in the diesel price.
The prices of petrol and diesel in Kolkata are Rs 73.36 and Rs 67.68 respectively, while in Chennai, petrol is being sold at Rs 73.99 and diesel at Rs 69.62.
Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.
Prices had started to climb from August 16. Petrol in Delhi was priced at Rs 77.14 and in Mumbai at Rs 84.58 per litre on August 15. Diesel on that day was priced at Rs 68.72 per litre in Delhi and Rs 72.96 in Mumbai.
Between August 16 and October 4, petrol price was hiked by Rs 6.86 per litre and diesel by Rs 6.73. On that day, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins.
The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. This is because a large proportion of the country's requirement is met through imports.
(With inputs from