Diesel and petrol prices rise by around 50 paise per litre

Phil Peters

For the second consecutive day on September 7, the fuel prices have touched a record high with petrol prices rising to Rs 79.99 per litre in the national capital and Rs 87.39 per litre in Mumbai.

Petrol prices were increased to Rs 87.39, Rs 86.41 and Rs 83.13 per litre in Mumbai, Kolkata and Chennai respectively on Thursday.

In Bengaluru, the petrol is sold at Rs 82.60 and diesel at Rs 74.39. In Kolkata, petrol costs Rs 82.88 and diesel Rs 74.92. Prices of petrol and diesel which were continuously hiked for the last ten days till September 4, remained unchanged on Wednesday, September 5.

Opposition parties have announced nationwide strikes and protests next week over record-high fuel prices which they blame on high taxes.

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On Tuesday, former Finance Minister P Chidambaram had stated that the "Relentless rise in prices of petrol and diesel is not inevitable".

State-owned oil marketing companies (OMCs) have again increased the price of sensitive petroleum products such as petrol and diesel in the country on Friday.

The Congress has chose to call a nationwide bandh on Monday, September 10 over the issue of rising fuel prices. The reasons for the same is mainly two-fold: drop in the value of rupee and rise in crude oil prices. He also did not comment anything on reducing the excise duty to counter the steep rise in the fuel prices.

Petrol price was hiked by 48 paisa per litre and diesel by 47 a litre, according to price notification issued by state fuel retailers. On Wednesday, Finance Minister Arun Jaitley had said that there was no need for a "knee-jerk" reaction to the rising prices of global crude oil.