Up for 16th straight day, fuel prices touch new high

Fuel prices continue to touch another peak for the 16th consecutive day, with petrol being sold at Rs 78.43 per litre in Delhi and Rs 86.24 per litre in Mumbai.

The cost of diesel per litre has also been increased to Rs 69.31 per litre in Delhi and Rs 73.79 a litre in Mumbai.

Meanwhile, the Indraprastha Gas Limited (IGL) on Monday announced an increase in the prices of Compressed Natural Gas (CNG) in Delhi and nearby areas, comprising Noida, Greater Noida and Ghaziabad as a result of the recent appreciation of dollar and revision in proportions of domestic gas allocation.

CNG has increased by Rs 1.36 per kg in Delhi and Rs 1.55 per kg in in Noida, Greater Noida, and Ghaziabad.

All India Trinamool Congress (TMC) MP Abhishek Banerjee is expected to protest against the fuel price hike at noon at Gandhi Murti in Kolkata.

As the Centre has come under fire over fuel price hike, Union Petroleum and Natural Gas Minister Dharmendra Pradhan earlier assured the public that the government will soon take out a solution to tackle the situation.

He further pointed out that less production of oil in the Organization of the Petroleum Exporting Countries (OPEC) and hike in crude oil price in the international market are some of the factors affecting the fuel price.

In April, Pradhan had said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.