Fuel price hike: The oil marketing companies (OMCs) on Friday once again hike the petrol prices by 6 paise across the country. After the revision, petrol prices has been increased to Rs 82.31 per litre in Delhi and Rs 89.69. In other metro cities such as Kolkata and Chennai, a litre of petrol in being sold at Rs 84.16 and Rs 85.83 respectively. Diesel prices, however, remained unchanged across the country for third day in a row. Currently diesel is being retailed at Rs 73.87 per litre in the national capital and Rs 78.42 per litre in Mumbai. In other metros such as Kolkata and Chennai, a litre of diesel is being sold at Rs 75.72 and Rs 78.10 respectively. Fuel prices in the national capital is the lowest among all metro cities of country because of lower taxes. Whereas in Mumbai rates are highest due to high sales tax and value added tax (VAT).

These prices might differ from city to city and pumps to pumps depending upon the local taxes and transportation cost. On Thursday, petrol prices jumed by 6 paise in the country. Except September 5, September 12 and September 19, there has been a continuous hike in petrol prices in the country over the past few weeks.

Fuel prices have been on a rising spree over the past few weeks and the trend seems to continue in the days to come. However, Central government including Union Minister Dharmendra Pradhan blames international market for this relentless hike in prices of petroleum products.

Several industry experts believe that the persistent surge in petroleum prices is due several factors including falling Indian currency value against the US dollar, high excise duty and increase in crude oil prices. The aftermath says that depreciation of rupee ends up with an increase in import of crude oil as all transactions are done in US dollars. In order to fulfill its petroleum needs, India imports around 80 per cent oil from countries like Iran, Iraq, UAE and others.