Petrol, diesel prices soar to record highs

Petrol, diesel prices soar to record highs

As petrol and diesel rates continued to soar on Monday after reaching a record high a day earlier, school bus operators indicated there could be a hike in bus fees from the second semester in October. Petrol hit Rs 86.72 per litre in Mumbai, an increase of 16 paise from its Monday's price. Also, crude oil prices have gained $7 a barrel in a fortnight.

Trend of petrol prices since the beginning August.

Since August 2018, petrol prices have gone up by Rs. 2 per litre, while diesel prices been hiked by Rs. 2.42 per litre. Diesel prices went up by almost 20 paise and petrol prices have gone up by 16 paise.

More news: IFA 2018 | Huawei finally officially releases Kirin 980 processors

Diesel is priced at Rs 71.34 in Delhi, Rs 74.19 in Kolkata, Rs 75.74 in Mumbai and Rs 75.39 in Chennai.

In a media statement, the department said that South Africa had witnessed "sustained increases in fuel prices for the past few months, which placed a strain on the consumers".

Fuel prices vary from state to state due to local levies.

More news: California close to enacting nation's strongest net neutrality law

Diesel rates on Monday were hiked by 39 paise a litre, the steepest increase since the daily revision in prices was introduced in mid-june 2017. However, it has been reported that efforts are on to bring petrol and diesel under the ambit of the Goods and Services Tax (GST), which could give some respite from rising fuel prices. The price of the fuel rose by the same amount in Delhi to Rs 79.31, and in Kolkata it costs Rs 82.22 a litre.

Andhra Pradesh Chief Minister N. Chandrababu Naidu has blamed the Narendra Modi government for the spike. Mumbai continues to have the highest rate for petrol among all metro cities, sources in the oil industry said.

"This suggests they (the government) are going to absorb this". And, the rupee will also touch the century mark. "Secondly, global currencies have weakened against the U.S. dollar", Pradhan had said in Surat.

More news: Eddie Howe rues missed chances in Bournemouth defeat at Chelsea

Related Articles