Fuel prices hiked for 11th consecutive day; petrol crosses ₹90-mark in Delhi

Fuel prices have been hiked across the country for eleventh day in a row. Petrol prices were increased by 31 paise while diesel by 33 paise on Thursday.

With the hike in prices, petrol is being sold at ₹90.19 per litre in the national capital while diesel is being sold at ₹80.60 per litre.

Oil prices have been steadily rising in the international market which has affected the prices of oil and have pushed the prices of petrol, diesel in India to a record high.

Earlier this month, during the budget speech, Union Finance Minister Nirmala Sitharaman had announced the imposition of Agriculture Infrastructure and Development Cess (AIDC) of ₹2.5 per litre on petrol and ₹4 per litre on diesel. This has brought up the prices of the two fuels significantly. Over 56% of the retail selling price of diesel and about 61% of petrol constitute central and state taxes.

Further, there are also been an increment in the price of liquefied petroleum gas cylinder by ₹50 per unit in Delhi, taking the cost of LPG gas to ₹769 per cylinder.

Various opposition leaders have slammed the government's move of consistently increasing fuel prices. CPI(M) party has claimed that over the last six years, the excise duties on petroleum products have been hiked by 217 per cent.