On the 30th of October, once again, fuel prices increased to a new hit in the metro cities.
On Saturday, Indian states witnessed a fuel rates hike in petrol and diesel prices in different cities/states.
The daily rise in fuel prices has now become a regular thing, which increased mandatorily like a routine in India. The rise in fuel prices, which looks a small amount of 35 paise, is causing major concerns to people of India, especially the poor and the middle class society of India.
Of all the major metro cities, Mumbai and Hyderabad have the highest rates of diesel and petrol per litre.
Fuel prices in different cities:
In Mumbai, the petrol price per litre is Rs. 114.81 and the diesel price is at Rs. 105.86 per litre
In Hyderabad also, prices hit a new high with prices of petrol and diesel being Rs. 113.36 and Rs. 106.60 per litre, respectively.
The petrol price in Delhi is at Rs. 108.99 per liter and diesel price is at Rs. 97.72.
The major reason behind the rise in prices is to balance retail prices in line with global developments due to the rise in crude oil prices. At the time of festival, Diwali, the rise in fuel prices is a major setback as the rates of daily kitchen items like vegetables, fruits and other items which are transported from one region to another, also witnessed a hike in prices.
Vegetables like onion, tomato, chillies and potato which were low and under Rs. 50 are now costing Rs. 80 to Rs. 100 per kg. In addition, fruits and flowers also became expensive.
It has been more than 2 months that the Indian states are witnessing every day hikes in fuel prices. The Central Government said they are in talks with nations like Kuwait, Saudi Arabia, Russia and others regarding the oil supply situation. However, considering the unstable situation, the prices are expected to rise in the coming days with no relief to people.
State owned fuel retailers, the Indian Oil Corporation Ltd., (IOC,) the Bharat Petroleum Corporation Ltd (BPCL) and the Hindustan Petroleum Corporation Ltd., (HPCL) resume daily price revision. Everyday fuel prices are updated at 6:00 A.M. Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.
Stay tuned for further updates.
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