Oil Marketing Companies (OMCs) on Saturday increased the prices of both diesel and petrol prices in the four metro cities across the country. With the updated prices, the petrol and diesel prices are continuing to haunt the citizens with its rising value. On September 1, 2018, the national capital woke up to the revised petrol and diesel prices, which were hiked by Rs 0.16 per litre and 0.34 per litre respectively. Earlier on Friday, diesel was sold at Rs 70.21 per litre, but today it was sold at Rs 70.76 per litre. On the other hand, petrol prices were also hiked and were sold at Rs 78.84 per litre in Delhi. In the economic capital, Mumbai, the petrol and diesel are retailing at Rs 86.25 per litre and Rs 75.12 per litre from today.
In Kolkata and Chennai, the petrol is priced at Rs 81.60 per litre and Rs 81.75 litre. On the other hand, the diesel is priced at Rs 74.41 per litre in Chennai and Rs 73.27 per litre in Kolkata. The graph of petrol and diesel prices is continuing its upward movement since last week.
According to reports, the fuel prices are cheapest in Delhi as compared to the other metro cities and state capitals following the lower sales tax or Value Added Tax (VAT). There are reports that the devaluation of the Indian rupee against the US dollar and hike in crude oil price in the global market could be the two reasons behind the persistent fuel price hike.