Fuel prices continue to surge in India

Fuel prices in many parts of the country have hit new heights on Tuesday morning, providing no respite to consumers.

In New Delhi, the petrol price has surged yet again and is retailed at Rs 82.86 per litre, while diesel is being sold at Rs 74.12 per litre.

Meanwhile, a litre of petrol has touched Rs 90.22 in Mumbai, while diesel is being capped at Rs 78.69 per litre.

On Monday, the petrol price in Mumbai surpassed the Rs 90-run mark as it was being retailed at Rs 90.22 per litre, while diesel was being sold at Rs 78.69 per litre.

A litre of petrol and diesel was sold at Rs.82.72 and Rs.74.02, respectively in the national capital yesterday.

Keeping the people's suffering in mind, the West Bengal government on September 11 reduced the excise on petrol and diesel by Re 1 per litre each last week. Later, the Karnataka government had also declared that the petrol and diesel prices across the state would be cheaper by Rs 2 per litre each, following the reduction in cess on these fuels.

As per India's pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the Indian rupee.

Fuel prices have been witnessing a steep rise since the past few weeks. While the Opposition has repeatedly blamed the Union government for not doing enough to keep a check on prices, the latter has always maintained that global crude oil prices and other international factors are causing a hike in prices of petroleum products.