Petrol Prices Hike Today, Diesel Remain Stable: Know The Reason Behind The Transition

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Petrol Prices Hike Today
Petrol Prices Hike Today

Fuel prices are constantly jumping since past few weeks, except for halts on September 5, September 12 and September 20, petrol prices have been raised almost on the daily basis.

Oil Marketing Companies (OMCs) raised petrol prices in four metropolitan cities on Thursday while the rates of diesel were kept immobile for second successive day.

In the four metropolitan cities petrol prices witnessed hike of 6 paise per litre in Delhi, Mumbai and Kolkata. However, in Chennai the raise was 7 Paise per litre.

After this critical moment the results are as follows:

  • A litre of petrol is selling at Rs. 82.22 in Delhi
  • A litre of petrol is selling at Rs. 89.60 in Mumbai
  • A litre of petrol is selling at Rs. 85.48 in Chennai
  • A litre of petrol is selling at Rs. 84.07 in Kolkata

The revised rates are applicable from 6 am on September 20, 2018.

Here are 5 things that will help you out the reason behind the raise of the petrol and diesel prices:

  1. Petrol and diesel prices vary from state to state due to local levies.
  2. Diesel is being retailed at a price of Rs. 73.87 per litre in Delhi, Rs.78.42 per litre in Mumbai, Rs. 78.10 per litre in Chennai and Rs. 75.72 per litre in Kolkata, according to a price notification of state-owned fuel retailers. The diesel rates were same on Wednesday also.
  3. Except for halts on September 5, September 12 and September 20, petrol prices have been hiked almost daily across India over the past few weeks.
  4. The surge in fuel prices is largely attributed to the recent rise in crude oil cost and the high excise duty levied on transportation fuel in the country. Depreciation in the Indian rupee against the US dollar also makes the import of crude oil expensive as transaction is done in dollars.
  5. Globally, oil prices rose for a third day on Thursday amid another draw down in U.S. inventories and strong U.S. gasoline demand, while signs OPEC may not raise output to address shrinking supplies from Iran also supported prices. (With agencies inputs)

Do you think that now the petrol and diesel price will be stagnant or will be active for few more day?

Let us know in the comments section below.

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