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Last Updated : Sep 08, 2018 01:32 PM IST | Source: Moneycontrol.com

Petrol price up 38 paise to Rs 87.77/litre in Mumbai, diesel price rises to Rs 76.68/litre

The petrol prices in Delhi too crossed Rs80/litre mark with petrol selling at Rs 80.38/litre in the national capital

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Fuel prices across India touched fresh highs on Saturday with the petrol price hiked by 38 paise and diesel price by 47 paise in Mumbai.

Petrol is selling at Rs 87.77/litre while diesel is priced at Rs 76.98/litre in Mumbai, according to a price notification issued by Indian Oil Corporation.

Considering the fuel prices vary from state to state depending on local sales tax or value added tax, petrol and diesel prices rose by 39 paise and 44 paise, respectively, in the national capital. Petrol prices in Delhi too crossed Rs80/litre mark on September 8.

As per the IOCL website, petrol is selling at Rs 80.38/litre, while diesel price has been revised to Rs 72.51/litre in Delhi.

In Chennai, where the petrol prices have also breached Rs80/litre mark, the petrol price touched fresh highs at Rs 83.54/litre on September 8 after seeing a 41 paise hike. Similarly, diesel price was up 47 paise to Rs 76.64/litre.

Petrol is selling at Rs 83.27/litre in Kolkata after a 39 paise hike on Friday. The cost of diesel increased by 44 paise to Rs 75.36/litre.

Fuel prices have been on a rise since mid-August, rising almost every day due to a combination of a drop in the dollar-rupee and rise in crude oil prices. The Opposition has been calling for a cut in excise duty to cushion the spike in fuel prices.

However, the Centre remains non-committal on cutting excise duty, citing volatile international oil prices.

"There is no straight line movement in global crude oil prices. In April and May, there was a lot of pressure. In June, they came down. In July, they came down and in August, there is again (an upward) movement. In last two days, there has been some moderation. For six days before that, there was again," Finance Minister Arun Jaitley had said on September 5.
First Published on Sep 8, 2018 12:17 pm
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