INSUBCONTINENT EXCLUSIVE:
In Kolkata, petrol prices, currently inching towards a four year high, stood at Rs
80.61
The petrol prices surged for the
thirteenth straight day on Saturday, with the petrol being sold for Rs 77.97 per litre in New Delhi
The petrol prices surged to Rs 77.97 in Delhi from Rs 77.83 a litre on Friday, data from the Indian Oil Corp (IOC) website revealed
Mumbai and Chennai, petrol prices stood at Rs 85.78 and Rs 80.95 a litre, respectively, higher than Rs 85.65 and Rs 80.80 per litre on
Friday.Following are the petrol prices in four metro cities on May 26
(Saturday):MetrosPricesDelhi77.97Kolkata80.61Mumbai85.78Chennai80.95Further, in Kolkata, petrol prices, currently inching towards a four
year high, stood at Rs 80.61, against 80.47 a litre a day before
The jump in petrol prices can be attributed largely to the recent rise in crude oil prices and the high excise duty on the fuels in the
hopes of easing fuel prices in the country
through $80 for the first time in a few years earlier this month
Domestic petrol and diesel prices are determined by a matrix of crude oil prices and rupee-dollar forex rates
The Indian rupee made some recovery against the US dollar last week on Thursday, but was only eight paise away from an 18-month low of 68.42
23, 201877.1779.8384.9980.11May 22, 201876.8779.5384.779.79May 21, 201876.5779.2484.479.47May 20, 201876.2478.9184.0779.13May 19,
201875.9178.5983.7578.78May 18, 201875.6178.2983.4578.46May 17, 201875.3278.0183.1678.16May 16, 201875.177.7982.9477.93May 15,
201874.9577.6582.7977.77May 14, 201874.877.582.6577.61May 13, 201874.6377.3282.4877.43Prices of diesel, the key transportation fuel, which
are already at record levels across the major cities rose to Rs 68.90, Rs 71.45, Rs 73.36 and Rs 72.74 a litre on Saturday in Delhi,
its crude oil requirements
Fuel, however, is a huge source of revenue for the government
Government data shows the Finance Ministry raised excise duty on petrol and diesel nine times between November 2014 and February 2016
Excise duty was reduced only once in October 2017
