Know how much petrol and diesel will cost you after hike today
The fuel prices are again on fire. After retreating from record highs last week, the prices of diesel and petrol are returning to soaring levels.
The prices of diesel surged by nearly 30 paise per litre and petrol prices increased by around 12 paise per litre on Friday.
Here is much a litre of petrol and diesel will cost you today:
The Centre had announced a Rs 2.50 per litre price cut on October 4. After the central government's decision, several states followed the suit.
However, the temporary relief has started to fade with near-daily hike in fuel prices since they were reduced. Petrol prices have gone up by Re 1 per litre since the cut. For diesel, in most cities, there has been a surge of almost Rs 2 per litre since October 5.
The prices have been rising almost daily since mid-August and had gone up by about Rs 6 per litre for diesel and petrol before the government reduced it.
The hike in crude oil price has led to rise in fuel prices domestically. Last week, the price of Brent crude oil cross $ 85 per barrel. However, the price has come to down almost $81 per barrel now.
The value of rupee has been under pressure due to the rise of crude oil prices as India is the third largest consumer of oil in the world. The domestic currency, which has lost over 15 per cent this year, traded crashed below 74 mark against dollar. However, the rupee gained some strength today and opened at 73.83 against dollar.