After the fresh fuel price, petrol is retailing at Rs 95.85 per litre in Delhi and diesel costs Rs 86.75 per litre. In Mumbai, petrol price has crossed Rs 102 per litre and diesel is retailing at Rs 94 per litre.
Fuel prices were sharply on Friday by state-run oil marketing companies (OMCs). Petrol and diesel rates across the country have been revised upwards by 28-29 paise.
After the fresh hike, petrol is retailing at Rs 95.85 per litre in Delhi and diesel costs Rs 86.75 per litre. In Mumbai, petrol price has crossed Rs 102 per litre and diesel is retailing at Rs 94 per litre.
In all other major cities in the country, petrol and diesel prices are retailing at rates never seen before in the country.
The latest round of fuel price hike has been so severe that the highest retail price of petrol in the country has gone up to Rs 106 per litre and that of diesel is just over Rs 99 per litre.
While state-run oil companies are hiking rates at the moment in view of higher global crude oil prices, experts are worried that it will severely impact economic recovery.
There is evidence to suggest that low income earners who depend on petrol and diesel prices have been big impact.
While OMCs may have little choice but to hike rates in view of global market rates, experts are worried about higher taxes levied by the central and state governments. State and central taxes account for at least 60 per cent of petrol and diesel prices.
Latest price of petrol and diesel
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