INSUBCONTINENT EXCLUSIVE:
Fuel prices today: Delhi has the cheapest fuel rates among all metros and most state capitals.Petrol, diesel prices climbed to new peaks on
Thursday as oil marketing companies (OMCs) raised the fuel rates across four metro cities
In Delhi, petrol rate touched Rs 83 per litre while diesel price reached Rs 74.24 per litre on Thursday
In Mumbai, petrol was sold at Rs 90.35 per litre
A litre of petrol was purchased at a price of Rs
86.28 in Chennai and Rs 84.82 in Kolkata, according to a price notification of state-owned fuel retailers The revised price of diesel in
Diesel was being sold at Rs 78.49 per litre in Chennai and Rs
Petrol, diesel rates vary from city to city and from pump to pump depending on local taxes and transportation cost.2
Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes
The continuous rise in transportation fuel prices has been in tandem with the increase in crude oil prices
Globally, oil prices rose by 1 per cent on Thursday, pushed up by the prospect of tighter markets due to US sanctions against major crude
exporter Iran, which are set to be implemented in November
At its 2018 peak, Iran exported around 3 million barrels per day (bpd) of crude oil, equivalent to 3 per cent of global consumption.4
Depreciation in the Indian rupee against the US dollar also makes the import of crude oil expensive as transaction is done in dollars
However, the Indian rupee on Thursday advanced by 22 paise to 72.38 against the US dollar in early trade.5.The government on Wednesday
raised import duties on 19 items, including jet fuel and air conditioners, as it looks to check the widening current account deficit
resulting from high crude oil prices and the rupee dipping to a historic low
