Petrol price crosses ₹78, diesel rates at new high1 min read . Updated: 28 Aug 2018, 06:25 PM IST
Fuel prices have been on the rise since 16 August after the rupee dipped to its lowest value against the US dollar.
New Delhi: Petrol prices on Tuesday crossed the ₹ 78 per litre mark in Delhi for the first time in more than two-and-half-months, while diesel continued to scale new highs.
Petrol price was hiked by 14 paise and diesel by 15 paise, according to price notification of state-owned fuel retailers.
The increase pushed up the petrol price past ₹ 78 for the first time since 3 June. It now costs ₹ 78.05 a litre in Delhi. In Mumbai, it is at ₹ 85.47. Diesel rates scaled a new high of ₹ 69.61 per litre. In Mumbai, it costs ₹ 73.90.
Fuel prices in Delhi are the cheapest in all metros and most of state capitals due to lower sales tax or VAT. Diesel prices hit their highest level, crossing the previous peak of ₹ 69.31 a litre reached on 29 May. Petrol rates are however lower than the peak hit on 29 May when they touched ₹ 78.43 a litre in Delhi and ₹ 86.24 in Mumbai.
Fuel prices have been on the rise since 16 August after the rupee dipped to its lowest value against the US dollar. The domestic unit hit a record low of 70.32 in early trade that day.
Petrol price has risen by ₹ 0.91 a litre in Delhi in last 13 days. Diesel rates have gone up by ₹ 0.89 per litre since then.
State-owned oil firms had in mid-June last year dumped the 15-year practice of revising rates on 1st and 16th of every month in favour of daily price revisions.