Friday was the 12th straight day of fuel price hike in the country.

The price of petrol and diesel prices went up by 32 and 18 paise respectively.

On Friday, the Indian Oil Corporation (IOCL) said that petrol was being sold at Rs 77.83 per litre in Delhi, Rs 85.65 in Mumbai, Rs 80.47 in Kolkata, and Rs 80.80 in Chennai, whereas diesel was being sold at Rs 68.75 in Delhi, Rs 73.2 in Mumbai, Rs 72.58 in Chennai and Rs 71.30 in Kolkata.

In Mumbai, along with Delhi and Chennai, the price of the auto fuel is already at an all-time high. The prices in these cities are now making new benchmarks on a daily basis.

The city club of the record breaking petroleum prices was joined by Kolkata on Thursday when petrol prices passed the Rs 80 per litre mark and reached Rs 80.12, which is the highest price in nearly four years.

In the international market crude oil prices are continuously rallying upwards and therefore domestic fuel prices are also increasing because domestic prices are now market controlled.

In addition, there is further burden on the auto fuel prices because of the weakening of the rupee against the US dollar, which has affected the rupee-dollar exchange rate and hence importers have to shell out more per litre of crude. At present, the Brent prices for crude oil, the international benchmark, is ay over $79 a barrel.

There have been demands on the government to reduce the fuel price by reducing the excise duty on petro fuel imports. Ever since the Karnataka polls, there has been a steady and daily increase in the prices of both petrol and diesel which has drawn severe criticism of the government from the opposition.

While referring to the acceptance of the prime minister Narendra Modi of the online fitness challenge posed by Indian cricket captain Virat Kohli, Congress president Rahul Gandhi said that Modi should instead take up the ‘fuel challenge’ and try and reduce the increase rapidly fuel prices.

Rahul Gandhi tweed, “Dear PM, Glad to see you accept the @imVkohli fitness challenge. Here’s one from me: Reduce Fuel prices or the Congress will do a nationwide agitation and force you to do so. I look forward to your response.”

There are expectations in some quarters that the centre would soon take quick action to give some relief to the common people from the rising fuel prices, union minister for petroleum and natural gas Dharmendra Pradhan said on Thursday.

 

(Adapted from HindustanTimes.com & IndiaToday.com)