Fuel prices burn pockets: Fuel rates hit an all-time high

Burning a hole in consumer’s pocket, fuel prices breached record levels on Tuesday in India. Followed by fall in rupee and a sharp rise in crude oil rates, state-run OMCs raised rates by 16 paise per litre and 19 paise per litre, respectively, for petrol and diesel.

Post the price hike, a liter petrol was priced at Rs 79.31 in Delhi, Rs 86.72 in Mumbai, Rs 82.41 in Chennai and Rs 82.22 in Kolkata.

According to Indian Oil Corporation (IOCL) website, a litre diesel costs Rs 71.34 in Delhi, Rs 75.74 in Mumbai, Rs 75.39 in Chennai and Rs 74.19 in Kolkata.

Former finance minister P Chidambaram on Monday asked the government to bring petrol and diesel under the Goods and Services Tax (GST) regime. When the GST was implemented from July 1 last year, the council kept fuel prices out of the regime.

Slamming the BJP-led government over rising petrol prices and depreciating value of rupee against the US dollar, AP CM N Chandrababu Naidu on Monday has said petrol prices will touch Rs 100 per litre soon. While addressing media in the state, the CM added that the rupee value would also touch Rs 100 against one US dollar.

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