Fuel prices continue the upward march

The state-owned oil marketing companies again increased the price of petroleum products such as petrol and diesel in the country on Monday, with Mumbai paying the highest among the four major metros. Petrol costs Rs. 88.12 a litre and diesel Rs. 77.32 in the city, according to the daily price notification issued by oil firms. In Delhi, the price of petrol has risen to a record Rs. 80.73 and diesel to Rs. 72.83, the lowest among the four metros. The petrol prices has gone up by around 5% since August 1, while diesel prices has gone up by 7% during the period. The fuel prices are likely to go up further as the rupee hit yet another all-time low of Rs. 72.18 against the dollar on Monday, while price of Brent oil was hovering over $77 a barrel. India imports about 80% of its crude oil requirement, and the falling Indian rupee makes imports costlier.
Source : https://www.thehindu.com/todays-paper/tp-national/fuel-prices-continue-the-upward-march/article24920723.ece

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