Britain ordered soldiers on Wednesday to start driving fuel tankers to replenish empty pumps, as motorists remained mired in queues after nearly a week of shortages, despite Prime Minister Boris Johnson saying the situation was improving.

Britain has been gripped by a rush of panic buying that has left pumps dry across major cities, after oil companies warned they did not have enough tanker drivers to move petrol and diesel from refineries to filling stations.

Opponents blame the crisis on government incompetence and its unyielding approach to Brexit, which has blocked hauliers from hiring drivers from the EU since Britain abandoned the common market this year. London says the disruption is partly an unforeseen result of the COVID-19 pandemic.

Business minister Kwasi Kwarteng said 150 soldiers would be driving tankers within a few days, and civilians would start shipments later on Wednesday using a government reserve fleet of around 80 vehicles.

Watch

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-uk-fuel-crisis-army-on-standby-to-deliver-fuel-416684/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"The last few days have been difficult, we`ve seen large queues. But I think the situation is stabilising, we`re getting petrol into the forecourts. I think we`re going to see our way through this," Kwarteng said.

Johnson has sought to quell concerns, saying supplies were returning to normal while also urging people not to panic buy.

A shortage of around 100,000 drivers has sown chaos through supply chains and raised the spectre of empty shelves and price increases at Christmas.

<h2>No guarantee</h2>

Asked if he could guarantee that there would not be problems in the run-up to the busy retail period, Kwarteng said: "I`m not guaranteeing anything. All I`m saying is that, I think the situation is stabilising."

By the early morning rush hour there were already long queues of cars in and around London and on the busy M25 orbital motorway circling the capital. Signs were up at some sites announcing no fuel was available.

The gridlock has sparked calls for doctors, nurses and other essential workers to be given priority access to fuel, a move Johnson has resisted.

Industry groups said the worst of the shortages seemed to be in London, the southeast and other English cities. Fights have broken out as drivers jostled.

The Petrol Retailers Association (PRA), which represents independent retailers who account for about two-thirds of all the 8,380 UK filling stations, said 27% its members` stations were out of fuel down from as high as 90 per cent two days ago.

More forecourts were reporting receiving deliveries and the situation was likely to improve further in the next 24 hours, but staff were experiencing "a high level of both verbal and physical abuse which is completely unacceptable," said Gordon Balmer, PRA Executive Director.

The shortages have left gaps on supermarket shelves and added to an air of chaos in the world`s fifth-largest economy. A spike in European wholesale natural gas prices has also tipped energy companies into bankruptcy.

To tackle the shortage, the government has said it will issue temporary visas to 5,000 foreign drivers, a measure it had previously ruled out after Johnson campaigned for tougher border restrictions as part of his hard line on Brexit.

"What we want to do is make sure that we have all the preparations necessary to get through until Christmas and beyond, not just in supplying the petrol stations but all parts of our supply chain," Johnson said.

Hauliers, petrol stations and retailers say there are no quick fixes as the shortfall of drivers is so acute, and transporting fuel demands training and licensing. European drivers may also be reluctant to take up the visa offer, which only lasts until Dec. 24.

Britain ordered soldiers on Wednesday to start driving fuel tankers to replenish empty pumps, as motorists remained mired in queues after nearly a week of shortages, despite Prime Minister Boris Johnson saying the situation was improving.

Britain ordered soldiers on Wednesday to start driving fuel tankers to replenish empty pumps, as motorists remained mired in queues after nearly a week of shortages, despite Prime Minister Boris Johnson saying the situation was improving. Britain has been gripped by a rush of panic buying that has left pumps dry across major cities, after oil companies warned they did not have enough tanker drivers to move petrol and diesel from refineries to filling stations. Opponents blame the crisis on government incompetence and its unyielding approach to Brexit, which has blocked hauliers from hiring drivers from the EU since Britain abandoned the common market this year. London says the disruption is partly an unforeseen result of the COVID-19 pandemic. Business minister Kwasi Kwarteng said 150 soldiers would be driving tankers within a few days, and civilians would start shipments later on Wednesday using a government reserve fleet of around 80 vehicles. Watch "The last few days have been difficult, we`ve seen large queues. But I think the situation is stabilising, we`re getting petrol into the forecourts. I think we`re going to see our way through this," Kwarteng said. Johnson has sought to quell concerns, saying supplies were returning to normal while also urging people not to panic buy. A shortage of around 100,000 drivers has sown chaos through supply chains and raised the spectre of empty shelves and price increases at Christmas. No guarantee Asked if he could guarantee that there would not be problems in the run-up to the busy retail period, Kwarteng said: "I`m not guaranteeing anything. All I`m saying is that, I think the situation is stabilising." By the early morning rush hour there were already long queues of cars in and around London and on the busy M25 orbital motorway circling the capital. Signs were up at some sites announcing no fuel was available. The gridlock has sparked calls for doctors, nurses and other essential workers to be given priority access to fuel, a move Johnson has resisted. Industry groups said the worst of the shortages seemed to be in London, the southeast and other English cities. Fights have broken out as drivers jostled. The Petrol Retailers Association (PRA), which represents independent retailers who account for about two-thirds of all the 8,380 UK filling stations, said 27% its members` stations were out of fuel down from as high as 90 per cent two days ago. More forecourts were reporting receiving deliveries and the situation was likely to improve further in the next 24 hours, but staff were experiencing "a high level of both verbal and physical abuse which is completely unacceptable," said Gordon Balmer, PRA Executive Director. The shortages have left gaps on supermarket shelves and added to an air of chaos in the world`s fifth-largest economy. A spike in European wholesale natural gas prices has also tipped energy companies into bankruptcy. To tackle the shortage, the government has said it will issue temporary visas to 5,000 foreign drivers, a measure it had previously ruled out after Johnson campaigned for tougher border restrictions as part of his hard line on Brexit. "What we want to do is make sure that we have all the preparations necessary to get through until Christmas and beyond, not just in supplying the petrol stations but all parts of our supply chain," Johnson said. Hauliers, petrol stations and retailers say there are no quick fixes as the shortfall of drivers is so acute, and transporting fuel demands training and licensing. European drivers may also be reluctant to take up the visa offer, which only lasts until Dec. 24.

British army to start driving tankers, fuel queues persist

Up to 90% of the pumps in major British cities were out of fuel today. Reports say UK Prime Minister Boris Johnson could consider using the army to deliver fuel to petrol stations. Palki Sharma tells you more.

Gravitas US Edition: Will the UK use the Army to transport petrol?

The United Kingdom is struggling with a drivers' drought. Supply chains have been crippled. Petrol pumps are running dry. Motorists are struggling with empty tanks. 5,000 new visas are expected to be issued for foreign drivers. Palki Sharma gets you a report.

Gravitas US Edition: Drivers' drought leaves UK without fuel

As part of a broader package of green initiatives aimed at achieving net-zero emissions from all forms of transport ten years later, Britain will ban the sale of new petrol and diesel heavy good vehicles from 2040.

World Business Watch: Britain to ban sale of new diesel and petrol heavy goods vehicles from 2040

Despite a jump in prices, oil exporters are losing cash. World's biggest oil economies are still bleeding, while major oil companies are reporting staggering losses. The worst may be yet to come. WION's Palki Sharma tells you why.

Gravitas: Despite a price jump, major oil exporters are losing cash

Oil prices are skyrocketing in India. Global oil prices are touching new highs. Why are Indians paying so much for oil? Will we have to keep paying more? WION's Palki Sharma tells you how a meeting next month could decide what you pay for fuel.

Gravitas: 2 factors are dictating how much you spend on fuel

India is the world's third-largest oil market. It imports nearly 85% of its crude. Petrol prices in India have crossed 100 rupees/litre. What can the govt do to help consumers? WION's Palki Sharma has the details.

Gravitas: What's India's Oil Strategy?

India: Why oil is so expensive and what could be done 
India is the world's third-largest oil market and depends heavily on crude oil to fuel its dreams and development. India consumes nearly 211.6 million tonnes of oil every year. Out of this, less than 35 million tonnes is produced in India. India does not have enough reserves, and new oil fields have not been explored.

Where does the rest of the oil come from?

Iraq, Saudi Arabia, the United Arab Emirates, the United States and Canada, among other countries are where India gets its oil from.

India imports nearly 85 per cent of its crude, which is the biggest reason for India's high fuel prices. India depends on imports, with some of the blame on OPEC+ - the organisation of petroleum exporting countries and Russia. They have cut supplies, but the demand is rising. Owing to this, prices have gone up. People in India are paying more than 100 rupees a litre for petrol, and this rise in fuel prices is affecting every Indian household.

<a href="https://www.wionews.com/videos/gravitas-whats-indias-oil-strategy-365527">WATCH|</a>

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What are the government's options?

It's important to understand fuel pricing in India, and the global price is currently around 60 dollars per barrel - roughly 28 rupees per litre.

Indians are paying close to 100 rupees because of taxes. Almost 2/3rd of what a buyer pays is excise duty and taxes. The base price of the fuel, transport charges and dealer commission make up just a portion of the pie. For eg - The price of petrol in Delhi was 89.29 rupees a litre on February 16. Of 89.29 rupees - the base price of petrol is just 31.82 rupees.

Then comes in freight at 0.28 rupees, followed by the price charged to dealers at 32.10 rupees. Excise duty stands at 32.90 rupees, which is levied by the union government.

Also read:&nbsp;<a href="http://13.235.153.162/world/israels-mediterranean-shoreline-drenched-with-tar-after-offshore-oil-spill-365255" hreflang="en">Israel's Mediterranean shoreline drenched with tar after offshore oil spill</a>

Dealer commission stands at 3.68 rupees and can change depending on your location. Next is VAT or value-added tax, at 20.61 rupees, which is levied by the state government. India has the highest tax on fuel - 260 per cent on the base price of petrol, and 256 per cent for diesel, according to CARE ratings. In Germany and Italy, the tax on fuel is 65 per cent of the retail price. In the UK, it is 62 per cent. In Japan, it is 45 per cent, and in the US it is 20 per cent. In India, it is 260 per cent!

State and central governments can make oil cheaper if they want to. Among other things, they could intervene by fixing oil prices. Currently, oil retailers in India can fix prices of petrol and diesel after factoring in their own cost which basically depends on the price of oil in the international market. They also factor in their profits.

Earlier, prices of petrol and diesel were regulated by the government, which paid subsidies to oil marketing companies which&nbsp;shielded consumers against turmoil in the international oil market.

In extreme cases, the government can still intervene. India can begin by diversifying imports. Currently, India relies heavily on West Asia for oil, with the region amounting for about 61 per cent of the oil shipped into the country. Earlier, India had a wider supply base. Now, it depends on OPEC+.&nbsp;

Also read:&nbsp;<a href="http://13.235.153.162/world/turmoil-in-west-asia-sparks-hike-in-fuel-prices-363895" hreflang="en">Turmoil in West Asia sparks hike in fuel prices</a>

With Joe Biden in office, India could resume buying oil from Iran and Venezuela. Reports say that India is already talking to both these countries. Once upon a time, Iran was among India's major suppliers. But since 2019, there have been zero imports from Iran because of the Trump administration's sanctions on Iran.

In the year 2018-19, India imported 23.5 million tonnes of Iranian oil - almost a 10th of India's requirement. Oil from Iran and Venezuela is cheaper, but both countries have been sanctioned by the United States.

To counter the growing oil prices, India's strategy must be to explore new markets and to find a way to work around US sanctions. India also needs to rethink high taxes, and regulate in extreme circumstances. India also needs to explore new reserves at home, and gradually work towards a future independent of oil. 
&nbsp;

India: Why oil is so expensive and what could be done India is the world's third-largest oil market and depends heavily on crude oil to fuel its dreams and development.

India: Why oil is so expensive and what could be done India is the world's third-largest oil market and depends heavily on crude oil to fuel its dreams and development. India consumes nearly 211.6 million tonnes of oil every year. Out of this, less than 35 million tonnes is produced in India. India does not have enough reserves, and new oil fields have not been explored. Where does the rest of the oil come from? Iraq, Saudi Arabia, the United Arab Emirates, the United States and Canada, among other countries are where India gets its oil from. India imports nearly 85 per cent of its crude, which is the biggest reason for India's high fuel prices. India depends on imports, with some of the blame on OPEC+ - the organisation of petroleum exporting countries and Russia. They have cut supplies, but the demand is rising. Owing to this, prices have gone up. People in India are paying more than 100 rupees a litre for petrol, and this rise in fuel prices is affecting every Indian household. WATCH| What are the government's options? It's important to understand fuel pricing in India, and the global price is currently around 60 dollars per barrel - roughly 28 rupees per litre. Indians are paying close to 100 rupees because of taxes. Almost 2/3rd of what a buyer pays is excise duty and taxes. The base price of the fuel, transport charges and dealer commission make up just a portion of the pie. For eg - The price of petrol in Delhi was 89.29 rupees a litre on February 16. Of 89.29 rupees - the base price of petrol is just 31.82 rupees. Then comes in freight at 0.28 rupees, followed by the price charged to dealers at 32.10 rupees. Excise duty stands at 32.90 rupees, which is levied by the union government. Also read: Israel's Mediterranean shoreline drenched with tar after offshore oil spill Dealer commission stands at 3.68 rupees and can change depending on your location. Next is VAT or value-added tax, at 20.61 rupees, which is levied by the state government. India has the highest tax on fuel - 260 per cent on the base price of petrol, and 256 per cent for diesel, according to CARE ratings. In Germany and Italy, the tax on fuel is 65 per cent of the retail price. In the UK, it is 62 per cent. In Japan, it is 45 per cent, and in the US it is 20 per cent. In India, it is 260 per cent! State and central governments can make oil cheaper if they want to. Among other things, they could intervene by fixing oil prices. Currently, oil retailers in India can fix prices of petrol and diesel after factoring in their own cost which basically depends on the price of oil in the international market. They also factor in their profits. Earlier, prices of petrol and diesel were regulated by the government, which paid subsidies to oil marketing companies which shielded consumers against turmoil in the international oil market. In extreme cases, the government can still intervene. India can begin by diversifying imports. Currently, India relies heavily on West Asia for oil, with the region amounting for about 61 per cent of the oil shipped into the country. Earlier, India had a wider supply base. Now, it depends on OPEC+. Also read: Turmoil in West Asia sparks hike in fuel prices With Joe Biden in office, India could resume buying oil from Iran and Venezuela. Reports say that India is already talking to both these countries. Once upon a time, Iran was among India's major suppliers. But since 2019, there have been zero imports from Iran because of the Trump administration's sanctions on Iran. In the year 2018-19, India imported 23.5 million tonnes of Iranian oil - almost a 10th of India's requirement. Oil from Iran and Venezuela is cheaper, but both countries have been sanctioned by the United States. To counter the growing oil prices, India's strategy must be to explore new markets and to find a way to work around US sanctions. India also needs to rethink high taxes, and regulate in extreme circumstances. India also needs to explore new reserves at home, and gradually work towards a future independent of oil.

Why oil is expensive in India, and what the government could do

Petrol and diesel prices maintained a northward rally on Monday, the seventh consecutive day when the retail prices have risen across the country, with oil on the boil in global markets and both crude and product prices seeing a big spike.

Accordingly, oil marketing companies raised the pump price of diesel by a high level of 29 paise per litre and petrol by another 26 paise per litre in Delhi.

With this increase, petrol is now priced at Rs 88.99 a litre and diesel Rs 79.35 a litre in the national capital.

In the last seven days, the price has gone up by Rs 2.06 per litre for petrol while diesel rate has risen by Rs 2.56 a litre.

Across the country as well the petrol price increase ranged from 23-26 paise per litre and diesel price 28-30 paise per litre depending on the level of local taxes on the two petroleum products.

In Mumbai, petrol price is just Rs 4 per litre short (Rs 95.46 a litre) of touching three digit mark of Rs 100 per litre for the very first ever anywhere in the country. Diesel price in the city is closing on Rs 90 a litre (Rs 86.34 a litre). In all other metros, petrol is over Rs 90 a litre mark while diesel is well over Rs 80 a litre barring Delhi

The increase on Monday has followed the firming global oil prices (both product and crude) that have maintained a record streak of gains in the past few days with crude reaching close to $ 63.5 a barrel mark (single day gain over 2 per cent).

But experts said that fresh lockdown in various parts of the globe on new coronavirus strain may impact demand and push down prices soon. Also, Saudi Arabia unilateral production cuts may also be withdrawn post March putting downward pressure on oil prices.

Though firm global crude and product price is the reason for the increase in retail price of petrol and diesel, it is interesting to note that even though crude has been hovering just over $55 a barrel for a long time earlier, OMCs had gone in for both a pause in price of auto fuels as well increase in its retail prices on consecutive days.

Crude prices have remained firm for the last few weeks in the wake of unilateral production cuts announced by Saudi Arabia and a pick up in consumption in all major economies globally.

The petrol and diesel prices have increased 19 times in 2021 with the two auto fuels increasing by Rs 5.28 and Rs 5.48 per litre respectively so far this year.

The last few increases in pump prices in petrol and diesel has taken its price to record levels across the country in all major metro cities and other towns. The last time the retail price of auto fuels were closer to current levels was on October 4, 2018 when crude prices had shot up up $ 80 a barrel.

The current price rise is largely on account of steep increase in central taxes of petrol and diesel and firm crude prices. The Budget has also imposed a new agriculture infrastructure and development cess. Oil minister Dharmendra Pradhan has ruled out any cut in duty on petro products.

Petrol and diesel prices maintained a northward rally on Monday, the seventh consecutive day when the retail prices have risen across the country, with oil on the boil in global markets and both crude and product prices seeing a big spike.

Petrol and diesel prices maintained a northward rally on Monday, the seventh consecutive day when the retail prices have risen across the country, with oil on the boil in global markets and both crude and product prices seeing a big spike. Accordingly, oil marketing companies raised the pump price of diesel by a high level of 29 paise per litre and petrol by another 26 paise per litre in Delhi. With this increase, petrol is now priced at Rs 88.99 a litre and diesel Rs 79.35 a litre in the national capital. In the last seven days, the price has gone up by Rs 2.06 per litre for petrol while diesel rate has risen by Rs 2.56 a litre. Across the country as well the petrol price increase ranged from 23-26 paise per litre and diesel price 28-30 paise per litre depending on the level of local taxes on the two petroleum products. In Mumbai, petrol price is just Rs 4 per litre short (Rs 95.46 a litre) of touching three digit mark of Rs 100 per litre for the very first ever anywhere in the country. Diesel price in the city is closing on Rs 90 a litre (Rs 86.34 a litre). In all other metros, petrol is over Rs 90 a litre mark while diesel is well over Rs 80 a litre barring Delhi The increase on Monday has followed the firming global oil prices (both product and crude) that have maintained a record streak of gains in the past few days with crude reaching close to $ 63.5 a barrel mark (single day gain over 2 per cent). But experts said that fresh lockdown in various parts of the globe on new coronavirus strain may impact demand and push down prices soon. Also, Saudi Arabia unilateral production cuts may also be withdrawn post March putting downward pressure on oil prices. Though firm global crude and product price is the reason for the increase in retail price of petrol and diesel, it is interesting to note that even though crude has been hovering just over $55 a barrel for a long time earlier, OMCs had gone in for both a pause in price of auto fuels as well increase in its retail prices on consecutive days. Crude prices have remained firm for the last few weeks in the wake of unilateral production cuts announced by Saudi Arabia and a pick up in consumption in all major economies globally. The petrol and diesel prices have increased 19 times in 2021 with the two auto fuels increasing by Rs 5.28 and Rs 5.48 per litre respectively so far this year. The last few increases in pump prices in petrol and diesel has taken its price to record levels across the country in all major metro cities and other towns. The last time the retail price of auto fuels were closer to current levels was on October 4, 2018 when crude prices had shot up up $ 80 a barrel. The current price rise is largely on account of steep increase in central taxes of petrol and diesel and firm crude prices. The Budget has also imposed a new agriculture infrastructure and development cess. Oil minister Dharmendra Pradhan has ruled out any cut in duty on petro products.

Petrol, diesel prices rise for 7th consecutive day

Petrol prices in India have touched an all-time high level, with a litre of the transportation fuel selling at ₹84.20 in Delhi on Thursday.

The increase in fuel prices comes after a jump in oil prices in the international market, where brent crude is currently trading at close to $55 a barrel, a $ 5 increase in just around a weeks’ time.

While the rising petrol prices have been burning a hole in Indian consumers’ pocket, common man is now worried about the rising fuel prices with concerns that petrol prices might touch Rs 100 per litre making things worse for them.

In Delhi, petrol now costs Rs 84.20 per litre and diesel is priced at Rs 74.38. In Mumbai, petrol comes for Rs 90.83 a litre and diesel for Rs 81.07.

This is the highest ever price of petrol in Delhi, while diesel is at record high in Mumbai.

State-owned fuel retailers Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) had on Wednesday resumed daily price revision after nearly a month-long hiatus.

Price had been raised by 26 paise per litre for petrol and 25 paise on diesel on Wednesday.

The previous highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018.

On that day, diesel too had scaled to an all-time high of Rs 75.45 a litre.

The government had responded to that situation by cutting excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence.

Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.

However, no tax cut is under consideration as of present, a senior government official had said on Wednesday.

Though petrol and diesel rates are to be revised on a daily basis in line with benchmark international price and foreign exchange, government-controlled fuel retailers have been moderating rates since the pandemic broke out.

They first did not pass on to the customers a reduction in price warranted from the slump in international oil rates witnessed due to demand erosion beginning March 2020.

While they promptly passed on an increase in sales tax by state governments such as the one in Delhi, they adjusted a steep increase in excise duty by the central government against the reduction in retail price warranted.

The government raised excise duty by Rs 13 per litre on petrol and by Rs 15 a litre on diesel in two instalments in March 2020 and May 2020 to garner additional revenue of Rs 1.6 lakh crore.

That adjustment of rate revision against excise duty hike resulted in a 52-day status quo in prices between March 17, 2020, and June 6, 2020.

This was followed by no change in rates between June 30, 2020, and August 15, 2020, and 58-day hiatus in petrol price revision and 48-day status quo on diesel rates from September 22, 2020, and October 2, 2020, respectively.

Rates were again frozen after the last revision on December 7, 2020.

Since May 2020, petrol price has risen by Rs 14.54 per litre and diesel by Rs 12.09 a litre, price notifications of oil companies showed. The highest level for petrol in Mumbai was on October 4, 2018 when it was Rs 91.34.

(With inputs from agencies)

Petrol prices in India have touched an all-time high level, with a litre of the transportation fuel selling at ₹84.20 in Delhi on Thursday. The increase in fuel prices comes after a jump in oil prices in the international market, where brent crude is currently trading at close to $55 a barrel, a $ 5 increase in just around a weeks’ time.

Petrol prices in India have touched an all-time high level, with a litre of the transportation fuel selling at ₹84.20 in Delhi on Thursday. The increase in fuel prices comes after a jump in oil prices in the international market, where brent crude is currently trading at close to $55 a barrel, a $ 5 increase in just around a weeks’ time. While the rising petrol prices have been burning a hole in Indian consumers’ pocket, common man is now worried about the rising fuel prices with concerns that petrol prices might touch Rs 100 per litre making things worse for them. In Delhi, petrol now costs Rs 84.20 per litre and diesel is priced at Rs 74.38. In Mumbai, petrol comes for Rs 90.83 a litre and diesel for Rs 81.07. This is the highest ever price of petrol in Delhi, while diesel is at record high in Mumbai. State-owned fuel retailers Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) had on Wednesday resumed daily price revision after nearly a month-long hiatus. Price had been raised by 26 paise per litre for petrol and 25 paise on diesel on Wednesday. The previous highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018. On that day, diesel too had scaled to an all-time high of Rs 75.45 a litre. The government had responded to that situation by cutting excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later. However, no tax cut is under consideration as of present, a senior government official had said on Wednesday. Though petrol and diesel rates are to be revised on a daily basis in line with benchmark international price and foreign exchange, government-controlled fuel retailers have been moderating rates since the pandemic broke out. They first did not pass on to the customers a reduction in price warranted from the slump in international oil rates witnessed due to demand erosion beginning March 2020. While they promptly passed on an increase in sales tax by state governments such as the one in Delhi, they adjusted a steep increase in excise duty by the central government against the reduction in retail price warranted. The government raised excise duty by Rs 13 per litre on petrol and by Rs 15 a litre on diesel in two instalments in March 2020 and May 2020 to garner additional revenue of Rs 1.6 lakh crore. That adjustment of rate revision against excise duty hike resulted in a 52-day status quo in prices between March 17, 2020, and June 6, 2020. This was followed by no change in rates between June 30, 2020, and August 15, 2020, and 58-day hiatus in petrol price revision and 48-day status quo on diesel rates from September 22, 2020, and October 2, 2020, respectively. Rates were again frozen after the last revision on December 7, 2020. Since May 2020, petrol price has risen by Rs 14.54 per litre and diesel by Rs 12.09 a litre, price notifications of oil companies showed. The highest level for petrol in Mumbai was on October 4, 2018 when it was Rs 91.34. (With inputs from agencies)

Petrol price at all-time high; citizens worry whether it will reach ₹ 100/litre

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike.&nbsp;

As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.0041) and diesel by 26 paise (USD 0.0035).&nbsp;

Also read | <a href="https://www.wionews.com/india-news/we-must-ensure-sushasan-in-bihar-pm-modi-at-petroleum-project-inauguration-327184">We must ensure 'sushasan' in Bihar: PM Modi at petroleum project inauguration</a>

One litre petrol in Delhi costs now Rs 83.71 (USD 1.13), while the diesel rate went up to Rs 73.87 (USD 1) per litre.&nbsp;

With this spike, the rates of petrol and diesel are at its highest since September 2018.&nbsp;

Also, this is the sixth day in a row when the fuel prices have risen in India and 15th increase since November 10.&nbsp;

In only 18 days, the price of petrol has shot up by Rs 2.65 (USD 0.036) per litre and that of diesel by Rs 3.41 (USD 0.046).

The increase in rates comes as international oil prices are rising by a third from lows at the end of October with hopes that coronavirus vaccine could lead to a resurgence in demand.

Brent crude oil is closing in on USD 50 per barrel.&nbsp;

In Mumbai, petrol is sold at Rs 90.34 (USD 1.22) per litre from Rs 90.05 and diesel at Rs 80.51 (1.09) from Rs 80.23.&nbsp;

The huge rise since November is seen after about two-month hiatus as petrol prices went unchanged since September 22 and diesel since October 2.&nbsp;

 
&nbsp;

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike. As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike. As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.0041) and diesel by 26 paise (USD 0.0035). Also read | We must ensure 'sushasan' in Bihar: PM Modi at petroleum project inauguration One litre petrol in Delhi costs now Rs 83.71 (USD 1.13), while the diesel rate went up to Rs 73.87 (USD 1) per litre. With this spike, the rates of petrol and diesel are at its highest since September 2018. Also, this is the sixth day in a row when the fuel prices have risen in India and 15th increase since November 10. In only 18 days, the price of petrol has shot up by Rs 2.65 (USD 0.036) per litre and that of diesel by Rs 3.41 (USD 0.046). The increase in rates comes as international oil prices are rising by a third from lows at the end of October with hopes that coronavirus vaccine could lead to a resurgence in demand. Brent crude oil is closing in on USD 50 per barrel. In Mumbai, petrol is sold at Rs 90.34 (USD 1.22) per litre from Rs 90.05 and diesel at Rs 80.51 (1.09) from Rs 80.23. The huge rise since November is seen after about two-month hiatus as petrol prices went unchanged since September 22 and diesel since October 2.

Petrol, diesel prices rise for sixth day in a row; set for all all-time high

Fuel prices remained unchanged on Saturday making it the fifth consecutive day when pump prices of petrol and diesel have remained static.

Fuel prices have gone for a longer pause after rising on 22 of the past 28 days. The oil marketing companies (OMC) began their daily price revision system from June 7 that kept the petrol and diesel prices to rise continuously by an average 50-60 paise per day.

In the national capital, petrol price on Saturday stood at Rs 80.43 per litre and diesel at Rs 80.53 a litre, same level as the last four days when OMCs went for a pause and kept the prices unchanged.

Sources in public sector oil companies said consumers could get relief from the regular price rise of the two petroleum products in coming days as the pause for four days now could be replicated if global oil prices remained soft.

Also, the oil companies have covered most of the shortfall when for 82 continuous days (from March 14 to June 6) petrol and diesel prices remained unchanged while the government substantially raised taxes on the products.

But With global oil prices now again rising over $42 a barrel, there could be instance that petrol and diesel prices may begin their daily rise again. But for this to happen, the current level of crude price has to rise further.

Fuel prices remained unchanged on Saturday making it the fifth consecutive day when pump prices of petrol and diesel have remained static. Fuel prices have gone for a longer pause after rising on 22 of the past 28 days.

Fuel prices remained unchanged on Saturday making it the fifth consecutive day when pump prices of petrol and diesel have remained static. Fuel prices have gone for a longer pause after rising on 22 of the past 28 days. The oil marketing companies (OMC) began their daily price revision system from June 7 that kept the petrol and diesel prices to rise continuously by an average 50-60 paise per day. In the national capital, petrol price on Saturday stood at Rs 80.43 per litre and diesel at Rs 80.53 a litre, same level as the last four days when OMCs went for a pause and kept the prices unchanged. Sources in public sector oil companies said consumers could get relief from the regular price rise of the two petroleum products in coming days as the pause for four days now could be replicated if global oil prices remained soft. Also, the oil companies have covered most of the shortfall when for 82 continuous days (from March 14 to June 6) petrol and diesel prices remained unchanged while the government substantially raised taxes on the products. But With global oil prices now again rising over $42 a barrel, there could be instance that petrol and diesel prices may begin their daily rise again. But for this to happen, the current level of crude price has to rise further.

Petrol, diesel prices unchanged for fifth consecutive day

Pakistan government has increased the prices of all petroleum products by up to nearly Pakistani Rupees 26.

Pakistan: Imran Khan government hikes petrol prices by 34%

Diesel price for the first time in living memory crossing the rate of petrol in the national capital on Wednesday. Diesel now costs Rs 79.88 per litre in Delhi as compared to petrol price of Rs 79.76.So far, both the central and state government have made sure diesel costs less than petrol because it has greater commercial use. 
 
However, diesel has become costlier than petrol&nbsp;in the national capital because the state government had raised local sales tax or VAT on the fuel sharply last month.&nbsp;

Fuel rates differ from state to state depending on the incidence of VAT.

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The Delhi government had increased VAT on petrol from 27 per cent to 30 per cent and that on diesel from 16.75 per cent to 30 per cent on May 5.

The lockdown halted commercial activity and the demand for fuel fell. Consequently, the government suffered losses. And hence, the Delhi government hiked the tax on diesel to boost revenue.

Another factor impacting fuel rates is the deregulation of fuel prices in India.&nbsp;

In 2014, domestic diesel prices were linked to international benchmarks and since then fuel prices are updated every single day. However, the pandemic put a pause on that practice.

For 83 days, the daily price revisions were stopped. Over the last 18 days, the price of diesel has gone up by Rs 10.48 rupees per litre.

Global oil prices have slipped from 75 dollars per barrel to 40 dollars per barrel. But the government isn't passing on the benefits of lower global oil prices because the taxes have gone up exponentially. 
 
Governments are in desperate need of funds and raising taxes on fuel is a quick way to plug the hole in public finances.

&nbsp;

Diesel price for the first time in living memory crossing the rate of petrol in the national capital on Wednesday. Diesel now costs Rs 79.88 per litre in Delhi as compared to petrol price of Rs 79.

Diesel price for the first time in living memory crossing the rate of petrol in the national capital on Wednesday. Diesel now costs Rs 79.88 per litre in Delhi as compared to petrol price of Rs 79.76.So far, both the central and state government have made sure diesel costs less than petrol because it has greater commercial use. However, diesel has become costlier than petrol in the national capital because the state government had raised local sales tax or VAT on the fuel sharply last month. Fuel rates differ from state to state depending on the incidence of VAT. × The Delhi government had increased VAT on petrol from 27 per cent to 30 per cent and that on diesel from 16.75 per cent to 30 per cent on May 5. The lockdown halted commercial activity and the demand for fuel fell. Consequently, the government suffered losses. And hence, the Delhi government hiked the tax on diesel to boost revenue. Another factor impacting fuel rates is the deregulation of fuel prices in India. In 2014, domestic diesel prices were linked to international benchmarks and since then fuel prices are updated every single day. However, the pandemic put a pause on that practice. For 83 days, the daily price revisions were stopped. Over the last 18 days, the price of diesel has gone up by Rs 10.48 rupees per litre. Global oil prices have slipped from 75 dollars per barrel to 40 dollars per barrel. But the government isn't passing on the benefits of lower global oil prices because the taxes have gone up exponentially. Governments are in desperate need of funds and raising taxes on fuel is a quick way to plug the hole in public finances.

Diesel becomes costlier than petrol in Delhi

Petrol and diesel prices continued to rise through the fortnight with the two auto fuels getting dearer by 51 and 61 paise per litre respectively on Saturday. This is the 14th day of fuel price rise since June 7 when oil companies began the daily price revision mechanism after a hiatus of 83 days during the lockdown.

Petrol and diesel prices continued to rise through the fortnight with the two auto fuels getting dearer by 51 and 61 paise per litre respectively on Saturday. This is the 14th day of fuel price rise since June 7 when oil companies began the daily price revision mechanism after a hiatus of 83 days during the lockdown. With the latest increase, petrol is being retailed at Rs 78.88 per litre and diesel at Rs 77.67 a litre in Delhi. This is an increase of Rs 7.62 per litre in the price of petrol since June 7. Similarly, diesel prices have gone up higher by Rs 8.28 per litre during the 24 day period. Prices of transportation fuel were last revised under the dynamic pricing policy on March 16 and there were few instances of price hike later only when the respective state governments hiked VAT or cess. (With inputs from agencies)

Petrol price up by Rs 7.62 and diesel Rs 8.28 in 14 days

The Haryana government on Thursday decided to partially restore the VAT rate on the sale of diesel and petrol in view of the decrease in the price of nearly Rs. 15 per litre compared with their prices in October 2018.

The increase in the rate of tax would be Rs.1 per litre in the case of petrol and Rs. 1.1 per litre in case of diesel, the state government said.

As per the proposed amendment, the rate of tax will be restored to 25 per cent (effective rate 26.25 per cent including surcharge) on petrol and 16.40 per cent (effective rate 17.22 per cent including surcharge) on diesel, that is pre-October, 4, 2018 levels and a fixed rate of tax per litre may be increased from Rs. 8.15 (effective rate Rs. 8.56 including surcharge) per litre to Rs. 9.20 per litre (effective rate Rs.9.66 including surcharge) in case of diesel and from Rs.14.25 (effective rate Rs. 14.96 including surcharge) per litre to Rs. 15.20 per litre (effective rate Rs. 15.96 including surcharge) in case of petrol.

It is also proposed that the condition of the legal notice of 10 days may also be dispensed with as huge financial implications are involved, the state government added.

As per proposed amendments, the ad valorem rate of 17.22 percent will trigger, when Retail Sale Price (RSP) is more than Rs. 65.75 in case of diesel and ad valorem rate of 26.25 percent will trigger when RSP is more than Rs.76.76 in case of Petrol.

With the proposed increase, the state will be able to garner additional tax of Rs.49 crore per month from diesel and Rs. 12 crores per month from petrol making it approximately Rs. 61 crore per month, presuming that the present volume of sales will remain unaffected.

The Haryana government on Thursday decided to partially restore the VAT rate on the sale of diesel and petrol in view of the decrease in the price of nearly Rs. 15 per litre compared with their prices in October 2018.

The Haryana government on Thursday decided to partially restore the VAT rate on the sale of diesel and petrol in view of the decrease in the price of nearly Rs. 15 per litre compared with their prices in October 2018. The increase in the rate of tax would be Rs.1 per litre in the case of petrol and Rs. 1.1 per litre in case of diesel, the state government said. As per the proposed amendment, the rate of tax will be restored to 25 per cent (effective rate 26.25 per cent including surcharge) on petrol and 16.40 per cent (effective rate 17.22 per cent including surcharge) on diesel, that is pre-October, 4, 2018 levels and a fixed rate of tax per litre may be increased from Rs. 8.15 (effective rate Rs. 8.56 including surcharge) per litre to Rs. 9.20 per litre (effective rate Rs.9.66 including surcharge) in case of diesel and from Rs.14.25 (effective rate Rs. 14.96 including surcharge) per litre to Rs. 15.20 per litre (effective rate Rs. 15.96 including surcharge) in case of petrol. It is also proposed that the condition of the legal notice of 10 days may also be dispensed with as huge financial implications are involved, the state government added. As per proposed amendments, the ad valorem rate of 17.22 percent will trigger, when Retail Sale Price (RSP) is more than Rs. 65.75 in case of diesel and ad valorem rate of 26.25 percent will trigger when RSP is more than Rs.76.76 in case of Petrol. With the proposed increase, the state will be able to garner additional tax of Rs.49 crore per month from diesel and Rs. 12 crores per month from petrol making it approximately Rs. 61 crore per month, presuming that the present volume of sales will remain unaffected.

Haryana accords approval to partially restore VAT on sale of diesel and petrol

Oil prices fell significantly on Monday with the US benchmark down nearly 25 per cent amid fears over a growing scarcity of oil storage space.

The West Texas Intermediate for June delivery shed 4.16 U.S. dollars, or 24.56 per cent, to settle at 12.78 dollars a barrel on the New York Mercantile Exchange. The prices traded as low as 11.88 dollars earlier in the session.

Brent crude for June delivery dropped 1.45 dollars, or 6.76 per cent, to close at 19.99 dollars a barrel on the London ICE Futures Exchange.

Risks on the demand side amid the COVID-19 pandemic fallout have reignited fears over availability of storage capacities, experts noted.

Monday's heavy losses followed extreme volatility on the oil markets in the prior week.

Despite a period of stabilization they have been enjoying since mid-last week, US oil prices posted a record weekly loss of 32.3 per cent based on the June contract. It is the biggest weekly percentage loss on record, according to Dow Jones Market Data. June Brent declined 23.6 per cent for the week ending Friday.

Oil prices fell significantly on Monday with the US benchmark down nearly 25 per cent amid fears over a growing scarcity of oil storage space. The West Texas Intermediate for June delivery shed 4.

Oil prices fell significantly on Monday with the US benchmark down nearly 25 per cent amid fears over a growing scarcity of oil storage space. The West Texas Intermediate for June delivery shed 4.16 U.S. dollars, or 24.56 per cent, to settle at 12.78 dollars a barrel on the New York Mercantile Exchange. The prices traded as low as 11.88 dollars earlier in the session. Brent crude for June delivery dropped 1.45 dollars, or 6.76 per cent, to close at 19.99 dollars a barrel on the London ICE Futures Exchange. Risks on the demand side amid the COVID-19 pandemic fallout have reignited fears over availability of storage capacities, experts noted. Monday's heavy losses followed extreme volatility on the oil markets in the prior week. Despite a period of stabilization they have been enjoying since mid-last week, US oil prices posted a record weekly loss of 32.3 per cent based on the June contract. It is the biggest weekly percentage loss on record, according to Dow Jones Market Data. June Brent declined 23.6 per cent for the week ending Friday.

US oil futures plunge nearly 25% amid fears of filled storage

Petrol and diesel prices registered a drop across the country on Monday as global oil prices plummeted around 30 per cent after Saudi Arabia slashed prices and set plans for a dramatic increase in crude production in April.

Also read:<a href="https://www.wionews.com/india-news/fresh-hike-in-petrol-diesel-prices-in-india-273300"> Fresh hike in petrol, diesel prices in India</a>

In New Delhi, petrol price fell by 24 paise intra-day and stood at Rs 70.59 per litre. Diesel in the national capital was retailed at Rs 63.26 per litre on Monday as against Rs 63.51 on Sunday.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/indias-january-inflation-rises-to-759-per-cent-280325">India's January inflation rises to 7.59 per cent</a>

The retail price of petrol in Kolkata saw a drop of 23 paise to Rs 73.28 per litre. The diesel price fell by 25 paise in the eastern metropolitan city to retail at Rs 65.59 per litre.

In Mumbai, petrol price was Rs 76.29 per litre as against Rs 76.53 a day earlier. Diesel was retailed at Rs 66.24 per litre, 26 paise lower than on Sunday.

Also read: <a href="https://www.wionews.com/business-economy/prices-of-petrol-diesel-rise-in-national-capital-270977">Prices of petrol, diesel rise in national capital</a>

In Chennai, petrol was retailed at Rs 73.33 per litre, 25 paise lower than a day earlier. Diesel price saw a fall of 26 paise to retail at Rs 66.75 per litre in the southern metropolitan.

Global crude oil prices fell by as much as a third following Saudi Arabia`s move to start a price war with Russia amid worries over the spread of coronavirus.

Brent crude futures were down 13.29 dollars or 29 per cent at 31.98 dollars a barrel by 04:33 hrs GMT after earlier dropping to 31.02 dollars, their lowest since February 12, 2016.

Brent futures were on track for their biggest daily decline since January 17, 1991, at the start of the first Gulf War.

Petrol and diesel prices registered a drop across the country on Monday as global oil prices plummeted around 30 per cent after Saudi Arabia slashed prices and set plans for a dramatic increase in crude production in April.

Petrol and diesel prices registered a drop across the country on Monday as global oil prices plummeted around 30 per cent after Saudi Arabia slashed prices and set plans for a dramatic increase in crude production in April. Also read: Fresh hike in petrol, diesel prices in India In New Delhi, petrol price fell by 24 paise intra-day and stood at Rs 70.59 per litre. Diesel in the national capital was retailed at Rs 63.26 per litre on Monday as against Rs 63.51 on Sunday. Also read: India's January inflation rises to 7.59 per cent The retail price of petrol in Kolkata saw a drop of 23 paise to Rs 73.28 per litre. The diesel price fell by 25 paise in the eastern metropolitan city to retail at Rs 65.59 per litre. In Mumbai, petrol price was Rs 76.29 per litre as against Rs 76.53 a day earlier. Diesel was retailed at Rs 66.24 per litre, 26 paise lower than on Sunday. Also read: Prices of petrol, diesel rise in national capital In Chennai, petrol was retailed at Rs 73.33 per litre, 25 paise lower than a day earlier. Diesel price saw a fall of 26 paise to retail at Rs 66.75 per litre in the southern metropolitan. Global crude oil prices fell by as much as a third following Saudi Arabia`s move to start a price war with Russia amid worries over the spread of coronavirus. Brent crude futures were down 13.29 dollars or 29 per cent at 31.98 dollars a barrel by 04:33 hrs GMT after earlier dropping to 31.02 dollars, their lowest since February 12, 2016. Brent futures were on track for their biggest daily decline since January 17, 1991, at the start of the first Gulf War.

Petrol, diesel prices drop as Brent crude prices plunge

Singapore aims to phase out petrol and diesel vehicles by 2040, making a bigger bet on electric cars as part of its efforts to cut greenhouse gases and fight climate change, the finance minister said on Tuesday.

Singapore aims to phase out petrol and diesel vehicles by 2040, making a bigger bet on electric cars as part of its efforts to cut greenhouse gases and fight climate change, the finance minister said on Tuesday. The wealthy city-state of 5.7 million, which is hiking investment in flood defences, joins Norway, Britain and others in setting a target to cut the use of vehicles with combustion engines. Also Read: Legal challenge to Singapore misinformation law rejected "Our vision is to phase out ICE (internal combustion engine) vehicles and have all vehicles run on cleaner energy by 2040," Finance Minister Heng Swee Keat said in his budget speech. Singapore, which has been criticised by Tesla CEO Elon Musk as not being supportive of electric vehicles, is one of the most expensive places in the world to buy a car and there are few electric vehicles on the roads. In Tuesday's budget, Heng said measures to encourage electric vehicle adoption included a registration fee rebate on purchases of fully electric car and taxis. The country, an oil-refining hub, will also expand public charging infrastructure to 28,000 points by 2030 from 1,600 now. "As a low-lying island nation, rising sea levels threatens our very existence," Heng said, adding that he was setting aside a coastal and flood protection fund with an initial injection of S$5 billion ($3.6 billion). Last year, the prime minister said protecting Singapore against rising sea levels could cost S$100 billion ($72 billion) or more over 100 years.

Singapore aims to phase out petrol and diesel vehicles by 2040

Amid volatility in the crude oil prices due to the uncertainty of US-Iran ties, prices of petrol rose by 15 paise in the national capital on Friday to Rs 75.96 per litre. The prices of diesel also increased to Rs 69.05 per litre from Rs 68.94 yesterday.&nbsp;

In this month so far, the petrol price increased by 69 paise per litre while diesel rates went up by 95 paise in Delhi.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/asian-shares-erase-losses-as-mideast-tensions-ease-oil-ticks-up-273093">Asian shares erase losses as Mideast tensions ease, oil ticks up</a>

In other metro cities, similar trends were seen. In Mumbai, Chennai and Kolkata too, petrol prices jumped by 15 paise to Rs 81.55, 78.92 and 78.54 respectively. In Bengaluru, petrol, today is sold at Rs 78.53, a rise of 18 paise from its earlier price. Diesel prices were also spiked the most in 
Bengaluru amongst the major cities, by 14 paise and is getting sold at Rs 71.38. A hike of 12 paise in diesel prices was seen in Mumbai, Chennai and Kolkata.&nbsp;

However, on Friday, global oil prices dropped as the threat of war in Gulf eased and investors turned their attention to economic growth opportunities and the rise in US crude oil and product inventories.

Brent crude lost 20 cents, or 0.3%, at $65.17 by 0240 GMT, and is approaching towards its first decline in six weeks, down 5%. WTI shed 20 cents, or 0.3%, at $59.36.&nbsp;

The prices of oil are now below of what it was before January 3 when US drone strike killed Iranian commander Qasem Soleimani that triggered tensions in the Middle East.

(with inputs from agencies)

Amid volatility in the crude oil prices due to the uncertainty of US-Iran ties, prices of petrol rose by 15 paise in the national capital on Friday to Rs 75.96 per litre.

Amid volatility in the crude oil prices due to the uncertainty of US-Iran ties, prices of petrol rose by 15 paise in the national capital on Friday to Rs 75.96 per litre. The prices of diesel also increased to Rs 69.05 per litre from Rs 68.94 yesterday. In this month so far, the petrol price increased by 69 paise per litre while diesel rates went up by 95 paise in Delhi. Also read: Asian shares erase losses as Mideast tensions ease, oil ticks up In other metro cities, similar trends were seen. In Mumbai, Chennai and Kolkata too, petrol prices jumped by 15 paise to Rs 81.55, 78.92 and 78.54 respectively. In Bengaluru, petrol, today is sold at Rs 78.53, a rise of 18 paise from its earlier price. Diesel prices were also spiked the most in Bengaluru amongst the major cities, by 14 paise and is getting sold at Rs 71.38. A hike of 12 paise in diesel prices was seen in Mumbai, Chennai and Kolkata. However, on Friday, global oil prices dropped as the threat of war in Gulf eased and investors turned their attention to economic growth opportunities and the rise in US crude oil and product inventories. Brent crude lost 20 cents, or 0.3%, at $65.17 by 0240 GMT, and is approaching towards its first decline in six weeks, down 5%. WTI shed 20 cents, or 0.3%, at $59.36. The prices of oil are now below of what it was before January 3 when US drone strike killed Iranian commander Qasem Soleimani that triggered tensions in the Middle East. (with inputs from agencies)

Fresh hike in petrol, diesel prices in India

<a href="https://www.wionews.com/business-economy/petrol-and-diesel-prices-go-down-for-the-fourth-consecutive-day-172553">Petrol and diesel prices</a> went up for the third consecutive day in the national capital and stood at Rs 75.04 and Rs 67.78 per liter, respectively on Monday.

As compared to yesterday, the petrol prices became costlier by 16 paise while diesel prices increased by 18 paise.

The retail price of fuel in India is dependent on global crude prices and the Rupee-US dollar exchange rate.

Petrol and diesel prices went up for the third consecutive day in the national capital and stood at Rs 75.04 and Rs 67.78 per liter, respectively on Monday. As compared to yesterday, the petrol prices became costlier by 16 paise while diesel prices increased by 18 paise.

Petrol and diesel prices went up for the third consecutive day in the national capital and stood at Rs 75.04 and Rs 67.78 per liter, respectively on Monday. As compared to yesterday, the petrol prices became costlier by 16 paise while diesel prices increased by 18 paise. The retail price of fuel in India is dependent on global crude prices and the Rupee-US dollar exchange rate.

Prices of petrol, diesel rise in national capital

Facing acute&nbsp;fuel&nbsp;shortages&nbsp;in their own country,&nbsp;Haitians&nbsp;took a chance to cross the border into the&nbsp;Dominican&nbsp;Republic&nbsp;in search of&nbsp;petrol&nbsp;on Monday.

Dozens were seen crossing the border and gathering around a&nbsp;petrol&nbsp;station in Dajabon, the capital city of the Dajabon province in the&nbsp;Dominican&nbsp;Republic, on the border with Haiti.

Haitians&nbsp;complained they need&nbsp;fuel&nbsp;to survive, while police in the&nbsp;Dominican&nbsp;Republic&nbsp;tighten their grip on security.

A dispute between Haiti and a US&nbsp;energy trading firm has to lead to long blackouts and&nbsp;fuel&nbsp;shortages&nbsp;in the Caribbean nation, feeding anger at President Jovenel Moise's government following the collapse of a supply deal with Venezuela last year.

The Western Hemisphere's poorest nation, Haiti long relied on&nbsp;fuel&nbsp;shipments from nearby OPEC member Venezuela, which offered cheap financing to several Caribbean nations to buy its gasoline, diesel and other products through a program called Petrocaribe.

But the scheme fell apart last year due to economic turmoil in Venezuela, forcing Haiti, a nation of 11 million people to return to international markets.

The result has put upward pressure on the prices of goods.

Facing acute fuel shortages in their own country, Haitians took a chance to cross the border into the Dominican Republic in search of petrol on Monday. Dozens were seen crossing the border and gathering around a petrol station in Dajabon, the capital city of the Dajabon province in the Dominican Republic, on the border with Haiti.

Facing acute fuel shortages in their own country, Haitians took a chance to cross the border into the Dominican Republic in search of petrol on Monday. Dozens were seen crossing the border and gathering around a petrol station in Dajabon, the capital city of the Dajabon province in the Dominican Republic, on the border with Haiti. Haitians complained they need fuel to survive, while police in the Dominican Republic tighten their grip on security. A dispute between Haiti and a US energy trading firm has to lead to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise's government following the collapse of a supply deal with Venezuela last year. The Western Hemisphere's poorest nation, Haiti long relied on fuel shipments from nearby OPEC member Venezuela, which offered cheap financing to several Caribbean nations to buy its gasoline, diesel and other products through a program called Petrocaribe. But the scheme fell apart last year due to economic turmoil in Venezuela, forcing Haiti, a nation of 11 million people to return to international markets. The result has put upward pressure on the prices of goods.

Fuel shortages drive Haitians into the Dominican Republic for petrol

<a href="https://www.wionews.com/business-economy/indias-diesel-demand-set-for-detour-as-drivers-switch-to-gasoline-235246">India's&nbsp;fuel&nbsp;demand&nbsp;rose</a>&nbsp;3.3 per cent in&nbsp;July&nbsp;compared with the same month last year.

Consumption of&nbsp;fuel, a proxy for oil&nbsp;demand, totalled 17.58 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

Sales of gasoline, or petrol, were 8.8 per cent higher than a year earlier at 2.52 million tonnes.

Cooking gas or liquefied petroleum gas (LPG) sales increased by 9.0 per cent to 2.22 million tonnes, while naphtha sales fell 5.2 per cent to 1.22 million tonnes.

Sales of bitumen, used for making roads, were 36.4 per cent up, while fuel oil use edged up 8.3 per cent in July.

India's fuel demand rose 3.3 per cent in July compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 17.58 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

India's fuel demand rose 3.3 per cent in July compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 17.58 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Sales of gasoline, or petrol, were 8.8 per cent higher than a year earlier at 2.52 million tonnes. Cooking gas or liquefied petroleum gas (LPG) sales increased by 9.0 per cent to 2.22 million tonnes, while naphtha sales fell 5.2 per cent to 1.22 million tonnes. Sales of bitumen, used for making roads, were 36.4 per cent up, while fuel oil use edged up 8.3 per cent in July.

India's fuel demand rose 3.3% in July

Petrol price in Delhi went up on Saturday by Rs 2.45, it will now cost Rs 72.96 per litre in the capital city.&nbsp;Diesel price has gone up by Rs 2.36, now at 66.69 per litre in Delhi.

This comes just a day after Finance Minister Nirmala Sitharaman on Friday tabled the government's budget for the first year and announced a hike of Rs 1 per litre on petrol. Customs duty on gold has also been hiked.&nbsp;

<a href="https://www.wionews.com/business-economy/budget-2019-here-is-what-favours-you-and-what-does-not-233308">The new budget</a> did not go well with the stock market as <a href="https://www.wionews.com/business-economy/sensex-falls-395-points-nifty-below-11900-as-budget-2019-fails-to-cheer-markets-233275">BSE Sensex fell</a> 394.67 points to 39,513.39 and the NSE Nifty&nbsp;declined 135.60 points to 11,811.20.

Sitharaman proposed increasing the minimum public shareholding in listed companies to 35% from 25%, threatening a wave of new issuance.

Benchmark indices fell sharply for the first time in the last five straight sessions after the budget failed to boost sentiment.

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Delhi: Petrol price hiked by Rs 2.45, now at 72.96 per litre. Diesel hiked by Rs 2.36, now at 66.69 per litre. <a href="https://t.co/RWBVepbfxN">pic.twitter.com/RWBVepbfxN</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1147329108407459840?ref_src=twsrc%5Etfw">July 6, 2019</a></blockquote>
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Prime Minister Narendra Modi on Friday addressed the nation after Finance Minister Nirmala Sitharaman tabled the budget.&nbsp;

Opening his post-budget address, the prime minister said that the <a href="https://www.wionews.com/india-news/union-budget-2019-this-budget-gives-hope-to-country-shows-we-are-on-right-track-pm-modi-233239">budget "has given hope to the country</a>".

"It testifies that the path we are on is right and that we will reach our target," PM Modi said, adding that the budget will help facilitate the creation of 'New India'.&nbsp;

"The middle class will progress with this budget, development work will expedite even more. The tax structure will simply and infrastructure will modernise," PM Modi said.&nbsp;

Key highlights of the budget:

- Tax rate reduced to 25 per cent for companies with annual turnover up to Rs 400 crore

- Those who don't have PAN can file tax returns using Aadhaar

- Pre-filling of Income-tax Returns for faster, more accurate tax returns

- Additional deduction up to Rs 1.5 lakhs for interest paid on loans borrowed up to March 31, 2020, for purchase of house valued up to Rs 45 lakh

- Funds raised by start-ups to not require scrutiny from Income Tax Department

- No tax on income up to Rs 5 lakh

 
&nbsp;

Petrol price in Delhi went up on Saturday by Rs 2.45, it will now cost Rs 72.96 per litre in the capital city. Diesel price has gone up by Rs 2.36, now at 66.69 per litre in Delhi.

Petrol price in Delhi went up on Saturday by Rs 2.45, it will now cost Rs 72.96 per litre in the capital city. Diesel price has gone up by Rs 2.36, now at 66.69 per litre in Delhi. This comes just a day after Finance Minister Nirmala Sitharaman on Friday tabled the government's budget for the first year and announced a hike of Rs 1 per litre on petrol. Customs duty on gold has also been hiked. The new budget did not go well with the stock market as BSE Sensex fell 394.67 points to 39,513.39 and the NSE Nifty declined 135.60 points to 11,811.20. Sitharaman proposed increasing the minimum public shareholding in listed companies to 35% from 25%, threatening a wave of new issuance. Benchmark indices fell sharply for the first time in the last five straight sessions after the budget failed to boost sentiment. Delhi: Petrol price hiked by Rs 2.45, now at 72.96 per litre. Diesel hiked by Rs 2.36, now at 66.69 per litre. pic.twitter.com/RWBVepbfxN — ANI (@ANI) July 6, 2019 × Prime Minister Narendra Modi on Friday addressed the nation after Finance Minister Nirmala Sitharaman tabled the budget. Opening his post-budget address, the prime minister said that the budget "has given hope to the country". "It testifies that the path we are on is right and that we will reach our target," PM Modi said, adding that the budget will help facilitate the creation of 'New India'. "The middle class will progress with this budget, development work will expedite even more. The tax structure will simply and infrastructure will modernise," PM Modi said. Key highlights of the budget: - Tax rate reduced to 25 per cent for companies with annual turnover up to Rs 400 crore - Those who don't have PAN can file tax returns using Aadhaar - Pre-filling of Income-tax Returns for faster, more accurate tax returns - Additional deduction up to Rs 1.5 lakhs for interest paid on loans borrowed up to March 31, 2020, for purchase of house valued up to Rs 45 lakh - Funds raised by start-ups to not require scrutiny from Income Tax Department - No tax on income up to Rs 5 lakh

Fuel prices take hit after Budget, petrol costlier by Rs 2.45 at Rs 72.96 in Delhi

There was a marginal hike in diesel prices on Sunday while petrol prices remained unchanged in the national capital and Mumbai.

In Delhi, diesel prices went up by 10 paise, costing at Rs 66 per litre now.

Petrol is sold at Rs 71.27 per litre, it was last increased on Tuesday by 13 paise per litre, according to data from the Indian Oil Corporation website.

Petrol and diesel prices in Delhi are the cheapest among all metropolitan cities.

In Mumbai, people will have to shell out Rs 76.90 per litre for petrol. Diesel costs Rs 69.11 per litre in the city.

In October, &nbsp;petrol prices had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai.&nbsp;

Diesel went up to Rs 75.45 a litre in October in the national capital and Rs 80.10 in Mumbai.

At present, all the oil marketing companies of the country revise the domestic prices of petrol and diesel on a daily basis, in accordance with the international crude oil and rupee-dollar.&nbsp;

There was a marginal hike in diesel prices on Sunday while petrol prices remained unchanged in the national capital and Mumbai. In Delhi, diesel prices went up by 10 paise, costing at Rs 66 per litre now.

There was a marginal hike in diesel prices on Sunday while petrol prices remained unchanged in the national capital and Mumbai. In Delhi, diesel prices went up by 10 paise, costing at Rs 66 per litre now. Petrol is sold at Rs 71.27 per litre, it was last increased on Tuesday by 13 paise per litre, according to data from the Indian Oil Corporation website. Petrol and diesel prices in Delhi are the cheapest among all metropolitan cities. In Mumbai, people will have to shell out Rs 76.90 per litre for petrol. Diesel costs Rs 69.11 per litre in the city. In October, petrol prices had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai. Diesel went up to Rs 75.45 a litre in October in the national capital and Rs 80.10 in Mumbai. At present, all the oil marketing companies of the country revise the domestic prices of petrol and diesel on a daily basis, in accordance with the international crude oil and rupee-dollar.

Diesel prices up by 10 paise, petrol remains unchanged

There is no respite yet for common citizens as prices of fuel and diesel saw a fresh hike on Wednesday.

Petrol is now being sold 13 paise higher at Rs&nbsp;71.27 per litre and diesel at Rs&nbsp;65.90 per litre after a 19 paise hike in New Delhi.

In Mumbai, petrol is retailing at Rs&nbsp;76.90 per litre after an increase of 13 paise and diesel is being sold at Rs&nbsp;69.01 per litre after a 2 paise hike in its price.

The price revision comes amidst a global dip in the price of crude oil.

Analysts say the prices of crude were down owing to a reduction in the global economic growth forecast which triggered concerns over demand for oil in the coming weeks.

There is no respite yet for common citizens as prices of fuel and diesel saw a fresh hike on Wednesday. Petrol is now being sold 13 paise higher at Rs 71.27 per litre and diesel at Rs 65.

There is no respite yet for common citizens as prices of fuel and diesel saw a fresh hike on Wednesday. Petrol is now being sold 13 paise higher at Rs 71.27 per litre and diesel at Rs 65.90 per litre after a 19 paise hike in New Delhi. In Mumbai, petrol is retailing at Rs 76.90 per litre after an increase of 13 paise and diesel is being sold at Rs 69.01 per litre after a 2 paise hike in its price. The price revision comes amidst a global dip in the price of crude oil. Analysts say the prices of crude were down owing to a reduction in the global economic growth forecast which triggered concerns over demand for oil in the coming weeks.

No respite from surging fuel prices, petrol crosses Rs 71 per litre in Delhi

Fuel prices continued to rise on Monday with prices of petrol reaching Rs 71.14 per litre in Delhi and Rs 76.77 per litre in Mumbai.

While diesel prices in the national capital were revised to Rs 65.71, Rs 68.81 in Mumbai, Rs 67.49 in Kolkata and Rs 69.41 in Chennai on Monday.

The prices of petrol were retailed at Rs 73.23 per litre in Kolkata and Rs 73.85 per litre in Chennai.

Petrol prices on Sunday were recorded at Rs 70.95 per litre in Delhi, Rs 76.58 in Mumbai, Rs 73.05 in Kolkata and Rs 73.65 in Chennai on Sunday.

The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Fuel prices continued to rise on Monday with prices of petrol reaching Rs 71.14 per litre in Delhi and Rs 76.77 per litre in Mumbai. While diesel prices in the national capital were revised to Rs 65.

Fuel prices continued to rise on Monday with prices of petrol reaching Rs 71.14 per litre in Delhi and Rs 76.77 per litre in Mumbai. While diesel prices in the national capital were revised to Rs 65.71, Rs 68.81 in Mumbai, Rs 67.49 in Kolkata and Rs 69.41 in Chennai on Monday. The prices of petrol were retailed at Rs 73.23 per litre in Kolkata and Rs 73.85 per litre in Chennai. Petrol prices on Sunday were recorded at Rs 70.95 per litre in Delhi, Rs 76.58 in Mumbai, Rs 73.05 in Kolkata and Rs 73.65 in Chennai on Sunday. The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Fuel prices continue to rise, petrol reaches Rs 71.14 per litre in Delhi, Rs 76.77 per litre in Mumbai

Petrol prices on Sunday in the national capital and in Mumbai rose by Rs 0.23 at Rs 70.95 per litre and Rs 76.58 respectively.&nbsp;

Diesel, on the other hand, was selling for Rs 65.45 per litre - up by Rs 0.29 - in Delhi. A litre of diesel is selling for Rs 68.53, up by Rs. 0.31, in Mumbai.

<a href="http://www.wionews.com/business-economy/fresh-hike-in-fuel-prices-on-saturday-191380">Fuel prices witnessed a fresh hike on Saturday</a>, adding to commuters' woes.

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Petrol and diesel prices at Rs 70.95/litre (increase by Rs 0.23) &amp; Rs 65.45/litre (increase by Rs. 0.29), respectively in Delhi. Petrol and diesel prices at Rs 76.58/litre (increase by Rs. 0.23) &amp; Rs 68.53/litre (increase by Rs. 0.31), respectively in Mumbai. <a href="https://t.co/qra9C6i9wQ">pic.twitter.com/qra9C6i9wQ</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1086810260915011585?ref_src=twsrc%5Etfw">January 20, 2019</a></blockquote>
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In New Delhi, petrol was being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike.

Also, petrol was retailing at Rs 76.35/litre (increased by 17 paise) and diesel at Rs. 68.22/litre (increased by 20 paise) in Mumbai on Saturday.

The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

(With inputs from ANI)&nbsp;

Petrol prices on Sunday in the national capital and in Mumbai rose by Rs 0.23 at Rs 70.95 per litre and Rs 76.58 respectively. Diesel, on the other hand, was selling for Rs 65.

Petrol prices on Sunday in the national capital and in Mumbai rose by Rs 0.23 at Rs 70.95 per litre and Rs 76.58 respectively. Diesel, on the other hand, was selling for Rs 65.45 per litre - up by Rs 0.29 - in Delhi. A litre of diesel is selling for Rs 68.53, up by Rs. 0.31, in Mumbai. Fuel prices witnessed a fresh hike on Saturday, adding to commuters' woes. Petrol and diesel prices at Rs 70.95/litre (increase by Rs 0.23) & Rs 65.45/litre (increase by Rs. 0.29), respectively in Delhi. Petrol and diesel prices at Rs 76.58/litre (increase by Rs. 0.23) & Rs 68.53/litre (increase by Rs. 0.31), respectively in Mumbai. pic.twitter.com/qra9C6i9wQ — ANI (@ANI) January 20, 2019 × In New Delhi, petrol was being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike. Also, petrol was retailing at Rs 76.35/litre (increased by 17 paise) and diesel at Rs. 68.22/litre (increased by 20 paise) in Mumbai on Saturday. The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future. (With inputs from ANI)

Fuel prices continue to rise, petrol up by 23 paise in Delhi, Mumbai

Fuel prices witnessed a marginal rise on Friday. Petrol price in New Delhi saw an increase of 08 paise and is now retailing at Rs 70.55 per litre, while the price of diesel was hiked by 19 paise to be sold at Rs 64.97 per litre.

Meanwhile, petrol prices in Mumbai saw an increase of 07 paise to be sold at Rs 76.18 per litre, while diesel is being sold 20 paise higher at Rs 68.02 per litre.

On Thursday, petrol and diesel were retailing at Rs 70.47 and Rs 64.78 per litre, respectively, in Delhi, while in Mumbai, a litre of petrol was selling at Rs. 76.11 per litre after an increase of 14 paise.

On the other hand, diesel witnessed a rise in price by 20 paise in Mumbai and was sold at Rs 67.82 per litre.

The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.&nbsp;

Fuel prices witnessed a marginal rise on Friday. Petrol price in New Delhi saw an increase of 08 paise and is now retailing at Rs 70.55 per litre, while the price of diesel was hiked by 19 paise to be sold at Rs 64.

Fuel prices witnessed a marginal rise on Friday. Petrol price in New Delhi saw an increase of 08 paise and is now retailing at Rs 70.55 per litre, while the price of diesel was hiked by 19 paise to be sold at Rs 64.97 per litre. Meanwhile, petrol prices in Mumbai saw an increase of 07 paise to be sold at Rs 76.18 per litre, while diesel is being sold 20 paise higher at Rs 68.02 per litre. On Thursday, petrol and diesel were retailing at Rs 70.47 and Rs 64.78 per litre, respectively, in Delhi, while in Mumbai, a litre of petrol was selling at Rs. 76.11 per litre after an increase of 14 paise. On the other hand, diesel witnessed a rise in price by 20 paise in Mumbai and was sold at Rs 67.82 per litre. The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Fuel prices witness marginal rise in Delhi, Mumbai

After a consistent <a href="http://www.wionews.com/business-economy/fuel-price-continue-to-increase-on-sixth-day-petrol-up-by-28-paise-in-delhi-mumbai-190330">rise for six consecutive days</a>, the prices of petrol on Wednesday witnessed a little decline.

While petrol prices&nbsp;were reduced by 0.8 paise in Delhi and Mumbai, diesel saw an increase of around 12 paise.

The prices of petrol were revised to Rs 70.33 per litre in Delhi, Rs 75.97&nbsp;in Mumbai, Rs 73 in Chennai and Rs 72.44 in Kolkata.

Diesel which rose by 12&nbsp;paise in Delhi and 13 paise in Mumbai was revised to Rs 64.59 per litre in Delhi, Rs 67.62 per litre in Mumbai, Rs 66.36 in Kolkata and Rs 68.22 in Chennai.

The petrol prices on Tuesday were recorded at Rs 70.41 per litre in Delhi, Rs 76.05 per litre in Mumbai, Rs 72.52 per litre in Kolkata and 73.08 in Chennai.

While Diesel was recorded at Rs 64.47 per litre in Delhi and Rs 67.49 per litre in Mumbai, Rs 66.24 in Kolkata and Rs 68.09 in Chennai.

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Petrol and diesel prices at Rs. 70.33/litre (decrease by Rs 0.08) &amp; Rs. 64.59/litre (increase by Rs. 0.12), respectively in Delhi. Petrol and diesel prices at Rs. 75.97/litre (decrease by Rs. 0.08) &amp; Rs. 67.62/litre (increase by Rs. 0.13), respectively in Mumbai. <a href="https://t.co/tFgg38PoJC">pic.twitter.com/tFgg38PoJC</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1085330452741709824?ref_src=twsrc%5Etfw">January 16, 2019</a></blockquote>
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Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.

Prices had started to climb from August 16.

After the consistent rise, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins.

The prices also reduced due to the falling international prices and the appreciation of the money.

(With inputs from agencies)

After a consistent rise for six consecutive days, the prices of petrol on Wednesday witnessed a little decline. While petrol prices were reduced by 0.8 paise in Delhi and Mumbai, diesel saw an increase of around 12 paise.

After a consistent rise for six consecutive days, the prices of petrol on Wednesday witnessed a little decline. While petrol prices were reduced by 0.8 paise in Delhi and Mumbai, diesel saw an increase of around 12 paise. The prices of petrol were revised to Rs 70.33 per litre in Delhi, Rs 75.97 in Mumbai, Rs 73 in Chennai and Rs 72.44 in Kolkata. Diesel which rose by 12 paise in Delhi and 13 paise in Mumbai was revised to Rs 64.59 per litre in Delhi, Rs 67.62 per litre in Mumbai, Rs 66.36 in Kolkata and Rs 68.22 in Chennai. The petrol prices on Tuesday were recorded at Rs 70.41 per litre in Delhi, Rs 76.05 per litre in Mumbai, Rs 72.52 per litre in Kolkata and 73.08 in Chennai. While Diesel was recorded at Rs 64.47 per litre in Delhi and Rs 67.49 per litre in Mumbai, Rs 66.24 in Kolkata and Rs 68.09 in Chennai. Petrol and diesel prices at Rs. 70.33/litre (decrease by Rs 0.08) & Rs. 64.59/litre (increase by Rs. 0.12), respectively in Delhi. Petrol and diesel prices at Rs. 75.97/litre (decrease by Rs. 0.08) & Rs. 67.62/litre (increase by Rs. 0.13), respectively in Mumbai. pic.twitter.com/tFgg38PoJC — ANI (@ANI) January 16, 2019 × Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. Prices had started to climb from August 16. After the consistent rise, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins. The prices also reduced due to the falling international prices and the appreciation of the money. (With inputs from agencies)

After six days of continuous rise, petrol prices reduce by 8 paise in Delhi, Mumbai

<a href="http://www.wionews.com/business-economy/fuel-prices-continue-to-rise-on-fifth-consecutive-day-petrol-crosses-rs-70-in-delhi-190095">Fuel prices</a> continued to increase for the sixth consecutive day on Tuesday with prices of petrol increasing by 28 paise in Delhi and Mumbai.

The petrol prices on Tuesday were revised to Rs 70.41 per litre in Delhi, Rs 76.05 per litre in Mumbai, Rs 72.52 per litre in Kolkata and 73.08 in Chennai.

Diesel which rose by 29 paise in Delhi and 31 paise in Mumbai was revised to Rs 64.47 per litre in Delhi and Rs 67.49 per litre in Mumbai, Rs 66.24 in Kolkata and Rs 68.09 in Chennai.

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Petrol and diesel prices at Rs. 70.41/litre (increase by Rs 0.28) &amp; Rs. 64.47/litre (increase by Rs. 0.29), respectively in Delhi. Petrol and diesel prices at Rs. 76.05/litre (increase by Rs. 0.28) &amp; Rs. 67.49/litre (increase by Rs. 0.31), respectively in Mumbai. <a href="https://t.co/jNyvBxwtKq">pic.twitter.com/jNyvBxwtKq</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1084986162593165313?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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The prices of petrol on Monday were recorded at Rs 70.13 in Delhi, Rs 75.77 in Mumbai, Rs 72.24 in Kolkata and Rs 72.79 in Chennai.

While Diesel prices were recorded at Rs 64.18 per litre in Delhi, Rs 67.18 &nbsp;in Mumbai, Rs 65.95 in Kolkata and Rs 67.78 in Chennai.

Prior to this seventh increase of 2019, rates had cooled to a year low of Rs 68.29 for petrol and Rs 62.16 in case of diesel.

Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.

Prices had started to climb from August 16.

After the consistent rise, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins.

The prices also reduced due to the falling international prices and the appreciation of the money.

Fuel prices continued to increase for the sixth consecutive day on Tuesday with prices of petrol increasing by 28 paise in Delhi and Mumbai. The petrol prices on Tuesday were revised to Rs 70.

Fuel prices continued to increase for the sixth consecutive day on Tuesday with prices of petrol increasing by 28 paise in Delhi and Mumbai. The petrol prices on Tuesday were revised to Rs 70.41 per litre in Delhi, Rs 76.05 per litre in Mumbai, Rs 72.52 per litre in Kolkata and 73.08 in Chennai. Diesel which rose by 29 paise in Delhi and 31 paise in Mumbai was revised to Rs 64.47 per litre in Delhi and Rs 67.49 per litre in Mumbai, Rs 66.24 in Kolkata and Rs 68.09 in Chennai. Petrol and diesel prices at Rs. 70.41/litre (increase by Rs 0.28) & Rs. 64.47/litre (increase by Rs. 0.29), respectively in Delhi. Petrol and diesel prices at Rs. 76.05/litre (increase by Rs. 0.28) & Rs. 67.49/litre (increase by Rs. 0.31), respectively in Mumbai. pic.twitter.com/jNyvBxwtKq — ANI (@ANI) January 15, 2019 × The prices of petrol on Monday were recorded at Rs 70.13 in Delhi, Rs 75.77 in Mumbai, Rs 72.24 in Kolkata and Rs 72.79 in Chennai. While Diesel prices were recorded at Rs 64.18 per litre in Delhi, Rs 67.18 in Mumbai, Rs 65.95 in Kolkata and Rs 67.78 in Chennai. Prior to this seventh increase of 2019, rates had cooled to a year low of Rs 68.29 for petrol and Rs 62.16 in case of diesel. Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. Prices had started to climb from August 16. After the consistent rise, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins. The prices also reduced due to the falling international prices and the appreciation of the money.

Fuel price continue to increase on sixth day, petrol up by 28 paise in Delhi, Mumbai

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