Fuel prices hiked again, rise by Rs 3.4 per litre in last 2 weeks

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The prices of petrol and diesel rose once again this morning, continuing a recent trend of nearly-daily hikes. In the four metro cities, petrol is the most expensive in Mumbai. Here, the premium fuel costs Rs 89.44 per litre, nearing the psychological Rs 90 per litre mark.

In Delhi, Kolkata and Chennai, petrol was being sold at Rs 82.06 per litre, Rs 83.91 per litre and Rs 85.31 per litre, respectively. This marks a hike of around 15 paise compared to Sunday’s fuel prices.

Diesel prices per litre, on the other hand, were Rs 73.78 (Delhi), Rs 75.63 (Chennai), Rs 78.00 (Kolkata), and Rs 78.33 (Mumbai). Diesel rates rose by around six paise compared to Sunday’s prices.

Petrol and diesel prices have been rising almost every day in the past one month. Since the beginning of this month, petrol prices have risen by around Rs 3.35 per litre while diesel rates have gone up by Rs 3.57 per litre. The comparison is based on fuel prices in Mumbai, and the rise may differ by a few paise in other cities.

In the last two weeks, petrol prices have risen by around Rs 3.35 per litre, while diesel rates have gone up by Rs 3.57 per litre

Both petrol and diesel prices are at all-time highs. This, coupled with a steady, near-daily fall in the rupee’s value against the dollar, has spelt bad news for the Narendra Modi government at the Centre.

The rising fuel prices and falling rupee have been used as political ammunition by the Opposition, which has blamed the Modi government’s economic policies for these two trends. The Congress even called a Bharat Bandh to protest the daily hikes in petrol and diesel prices.

The government, for its part, has blamed global factors for the rise in the fuel prices. The government has also said that the fall in the rupee should not be seen in isolation. It is the dollar that is becoming stronger — against all world currencies — as opposed to the rupee becoming weaker, the government has argued.

 

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