(Image source from: Ndtv.com)
Fuel prices in the Country reach all-time high:- The price of petrol and diesel in the country touched all time high with the hike in the price as per January 27th by the State-run oil marketing companies (OMCs). The prices of petrol are increased by Rs 5.25 and diesel by Rs 6.25 in the past ten weeks in India which made the prices reach all time high. With the today's hike by 25 paisa per litre, the prices reached all time high. The price of petrol in New Delhi is said to be Rs 86.30 per litre which was Rs 86.05 yesterday. The price of diesel per litre in New Delhi is Rs 76.48 as per the information from the Indian Oil Corporation web portal. This is said to be the highest price reported for petrol and diesel in the country till date.
In Kolkata, the price of petrol is Rs 87.69 and diesel is costing Rs 80.08 per litre. The prices in Mumbai for petrol and diesel are said to be Rs 92.86 and Rs 83.30. In Chennai, the prices are said to be Rs 88.82 for petrol and Rs 81.71 for diesel per litre. The oil companies increased the prices on Republic Day. The local prices of auto fuels in the country are unstoppable after the international brent crude is steady in the past 20 days.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan recently said that the prices for petrol and diesel came up because of the production cut due to the coronavirus crisis in the oil-producing countries of the globe. He said that the production is lowered because of which there is an imbalance in the demand as well as the supply. The taxes comprise of 60 percent of the fuel retail prices.