Petrol, Diesel prices soar to new record high

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New Delhi: Petrol prices in New Delhi and Mumbai rose to an all-time high of Rs 79.51 and Rs 86.91 per litre respectively as per the prices uploaded by Indian Oil Corporation (IOCL) in its website.  Diesel prices too rose up by Rs 0.36 per litre in Delhi (Rs 71.55 per litre) and Rs 0.42 in Mumbai (Rs 75.96 per litre). Similarly, Petrol and Diesel prices rose to Rs. 78.38 and Rs.76.77 respectively in Bhubaneswar..

Domestic Petrol and Diesel prices are continuously increasing since August 16 due to the twin effect of Rising Crude Oil prices in the international market and weakening Indian Rupee against the US Dollar.

Despite spiraling prices, the Government yesterday made it clear that it’ll not cut excise duty on petrol and Diesel prices as it’ll affect the government’s revenue collections. Currently the central government collects Rs.19.48 per litre of Petrol and Rs. 15.33 per litre of Diesel in Delhi.

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