Prices of petrol and diesel across the nation touched new all-time highs after rates were increased for the fourth time this week. Petrol and diesel prices were hiked by 25 paise/litre each, according to a price notification from oil marketing companies.
The current price of petrol is at Rs 85.70 and Rs 92.28 per litre in Delhi and Mumbai respectively. Whereas the diesel rate climbed to Rs 75.88 a litre in the national capital and to Rs 82.66 per litre in Mumbai, the latest price data showed.
Prior to the current price hikes, fuel prices had last recorded high in 2018, wherein the government had to cut excise duty on oil by Rs1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence.
Oil Minister Dharmendra Pradhan blames Saudi oil output cut for the surge in oil prices.
