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Petrol, diesel prices continue to rise, at record high

Tuesday, September 11, 2018

Petrol and diesel prices continued to rise yesterday, scaling new highs as the depreciating rupee made imports costlier. Petrol price yesterday increased by 23 paisa a litre and diesel by 22 paisa a litre, according to the price notification issued by state fuel retailers.

The increase pushed the petrol price in Delhi to a record high of Rs 80.73 per litre. Diesel rate touched its highest level of Rs 72.83 a litre. Fuel prices in Delhi are the cheapest among all metros and most state capitals due to lower taxes.

The new high came on the day when opposition parties led by the Congress called for a nation-wide 'Bharat Bandh' to protest against the spiralling fuel prices. They blame the government's unwillingness to cut excise duty for high fuel prices and consumer burden.

 Since mid-August, petrol price has risen by Rs 3.65 a litre and diesel by Rs 4.06 per litre as the rupee hit the record low against the US dollar, making imports costlier.

 Almost half of the retail selling price of the two fuels is made up of central and state taxes.

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