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Diesel prices have gone up across the country and has hit an all-time high in major cities such as Delhi and Mumbai. The petrol price will also increase in the coming days as the fuel companies have announced that the prices will be revised on a daily basis.
Currently, the price of diesel has hit a record high in Mumbai and the price stands at Rs 73.79/litre. Similarly, the price of diesel in Delhi stands at Rs 69.51/litre, which is also a record high. The petrol prices are also creeping upwards and the price in Mumbai stands at Rs 85.38/litre. A litre of petrol in the national capital Delhi costs Rs 77.96/litre.
The reason behind the hike in petrol and diesel prices is the stumbling value of rupee as compared to the US dollar. Other factors affecting the fuel prices are the trade war between the United States and sanctions of the United States against Iran, which is a large supplier of crude oil.
The fuel prices are also going up at a rapid rate in other major cities. The diesel price in Kolkata stands at Rs 72.35/litre and a litre of petrol costs Rs 80.89/litre. The situation is similar in Chennai. The diesel price has gone up to Rs 73.43/litre while the petrol price stands at Rs 80.99/litre.
A litre of diesel in Bangalore now costs Rs 71.73/litre while a litre of petrol costs 80.49/litre. The prices of both the petrol and diesel has seen a steady rise in the past ten days and it is expected to continue in the coming days. By looking at the rate of the hike, there is no surprise if the petrol price also reaches a record high.
Previously, the prices of petrol and diesel were increased on the 1st and 16th of every month depending on the market conditions. Now, the fuel companies will be revising the fuel prices every day at 6 AM. We can expect a gradual increase day-by-day due to the reasons mentioned above.
Thoughts On The Petrol And Diesel Price Hike
The fuel companies have once again increased the petrol and diesel prices across the country. The diesel price has hit an all-time high in Mumbai and soon the petrol price will also increase. It is a very difficult situation for both the oil companies and the consumers. The increase in diesel prices will have an adverse effect on all the major sectors in the country.