Fuel Price Update: Price of Petrol More Than Rs. 75 Per Litre In Delhi, Diesel Price All-Time High
The fresh hike comes despite crude oil prices slumping by nearly $9 over the past fortnight | File Image | (Photo Credits: PTI)

New Delhi, May 16: Fuel prices in India continued to rise on Wednesday and crossed the Rs 75 per litre mark in the national capital. In Delhi, petrol was priced at Rs 75.10 per litre in Delhi, the highest since it hit Rs 76.06 a litre in September 2013 while diesel was priced at Rs 66.57 per litre.  There has been a substantial hike in the fuel prices over the last few weeks. As per details on the IOC website, In Mumbai, petrol was priced at Rs 82.94 per litre on Wednesday while diesel was priced at Rs 70.88 per litre.

As per reports, the considerable increase in the fuel prices is all set to burn a bigger hole in commuters' pockets across the nation, as petrol will now cost Rs 77.79 in Kolkata, Rs 82.94 in Mumbai and Rs 77.93 in Chennai. On the other hand, diesel will now cost Rs 66.57 in New Delhi, Rs 69.11 in Kolkata, Rs 70.88 in Mumbai and Rs 70.25 in Chennai.

Price of Petrol in metro-cities on May 16, 2018

Metros Price in Rs (Per Litre)
Delhi 75.10
Kolkata 77.79
Mumbai 82.94
Chennai 77.93

Price of Diesel in metro-cities May 16, 2018

Metros Price in Rs  (Per Litre)
Delhi 66.57
Kolkata 69.11
Mumbai 70.88
Chennai 70.25

It must be noted that fuel prices were last hiked 19 days ago. Reports inform that rates of transport fuels, rose for the third consecutive day after the IOC resumed the dynamic pricing system on Monday after a 19-day halt.

Data by the Indian Oil corporation (IOC) revealed that petrol prices are up around Rs. 5.07-5.40 per litre in the four metros so far this year, while diesel has soared by Rs. 6.81-7.61 per litre.

At present, petrol and diesel rates in the country are reviewed daily. The new rates that are revised every day at 6 am are determined broadly by global crude oil and rupee-dollar forex rate. To recall, the daily system of fuel price revisions adopted in June 2017. In April last month, Union Petroleum Minister Dharmendra Pradhan said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.