Energy Department intervenes to keep petrol price increase down
03 September, 2018, 21:40 | Author: Brooke Harris
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. New Pakistan Prime Minister Imran Khan last week announced a cut in petrol, diesel and kerosene oil prices to contain the rising inflation.
Diesel prices per litre for Mumbai, Chennai and Delhi are Rs 75.54, Rs 75.19 and Rs 71.15.
The only increase that will be factored into the price for September is a retail margin increase of 4.9c per litre, to be placed on the retail price on 5 September 2018.
The rupee collapsed to a new lifetime low of 71.21 against the United States dollar, while petrol prices rose to a new high of Rs 86.56 a litre in Mumbai on Monday. In Mumbai, it rose from Rs 75.12 to Rs 75.54 per litre. Petrol prices increased by Rs 0.31 per litre and touched Rs 79.15 per litre in Delhi.
Diesel now costs ₹?75.54 per litre in Mumbai. On the other hand, the diesel is priced at Rs 74.41 per litre in Chennai and Rs 73.27 per litre in Kolkata. Mumbaikars are already frustrated with low mileage and extra fuel consumption due to road congestion, and vehicle speeds dropping to 10kmph on express highways during peak hours. The prices of PNG were raised by Rs 1.11 per standard cubic meter, costing now at Rs 28.25 per scm, while same in Noida, Greater Noida and Ghaziabad would be Rs 30.10 per scm, which has been increased by Rs 1.26 per scm.
The rupee-dollar exchange rate has dropped to an all-time low of Rs 71.42 to a dollar on August 31.
The oil marketing companies continue to push fuel prices upwards amid rising crude oil prices and heavy pressure on the value of domestic currencies.
CNG now costs ₹42.60 per kg in Delhi and ₹49.30 per kg in Noida, Greater Noida and Ghaziabad.
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