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Fuel price hike: Petrol hits all-time high of Rs 91.34/ litre in Mumbai

Fuel price hike: Petrol hits all-time high of Rs 91.34/ litre in Mumbai

Fuel price hike: Petrol hits all-time high of Rs 91.34/ litre in Mumbai
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By CNBC-TV18 Oct 4, 2018 3:10 PM IST (Updated)

Various factors including rupee depreciation, high excise duty and rise in Brent crude oil rates have been blamed for the soaring domestic fuel prices.

Fuel prices resumed their aggressive uptick after a one-day halt as the rupee fell to another historic low against US dollar, with petrol costing 14 paise more at Rs 91.34 and diesel pricing 21 paise more at Rs 80.10 per litre in Mumbai on Thursday.

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Fuel prices increased in New Delhi, Kolkata and Chennai as well.
In New Delhi,  petrol prices rose by 15 paise to Rs 84 a  litre while diesel prices increased by 20 paise to Rs 75.45 per litre. In Kolkata and Chennai, petrol prices climbed by 15 paise to Rs 85.80 and Rs 87.33 per litre, respectively. Diesel prices in Chennai increased by 22 paise to Rs 79.79 a litre and by 20 paise to Rs 77.30 per litre in Kolkata.
The rise in the fuel prices come despite crude oil prices falling from its four-year highs after pressure from rising US inventories. The rupee on Wednesday, however, weakened further and hit the 73-mark, adding to the nation's oil import bill at a time when crude is hovering at around $85 a barrel.
Various factors such as rupee depreciation, high excise duty and rise in Brent crude oil rates have been blamed for soaring domestic fuel prices.
(With inputs from Reuters)
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