Fuel prices have been hiked yet again with petrol prices hiked by 15 paise on Wednesday in Delhi and Mumbai, with prices hitting ₹ 75.10 per litre of petrol in Delhi, and petrol costing ₹ 82.94 per litre in Mumbai. A litre of diesel in Delhi will now cost ₹ 66.57, while in Mumbai, one litre of diesel now costs ₹ 70.88 in Mumbai. Fuel prices were last hiked 19 days ago, and the substantial hike is likely to pinch commuters across the country.
Fuel prices are determined by two primary factors – global crude oil prices as well as the rupee-dollar forex rate. With crude touching $79.47 a barrel, and the rupee down more than 6 per cent to almost 68 against the dollar, fuel prices were bound to be affected. However, fuel prices remained unchanged for 19 days before the Karnataka elections, and state-owned oil companies are estimated to have lost around ₹ 500 crore as they absorbed the higher cost due to the rise in international crude prices as well as the fall in rupee against the US dollar during the period.
Current Fuel Prices In Major Cities:
Delhi: ₹ 75.10 (per litre of petrol), ₹ 66.57 (per litre of diesel)
Mumbai: ₹ 82.94 (per litre of petrol), ₹ 70.88 (per litre of diesel)
Bengaluru: ₹ 76.31 (per litre of petrol), ₹ 67.71 (per litre of diesel)
Chennai: ₹ 77.93 (per litre of petrol), ₹ 70.25 (per litre of diesel)
Hyderabad: ₹ 79.55 (per litre of petrol), ₹ 72.36 (per litre of diesel)
Kolkata: ₹ 77.79 (per litre of petrol), ₹ 69.11 (per litre of diesel)