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This article is more than 3 year old.

Fuel prices soar: Petrol crosses Rs 80 per litre mark across major cities

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Petrol prices touched Rs 80.73/litre in Delhi and Rs 88.12/litre in Mumbai.

Fuel prices soar: Petrol crosses Rs 80 per litre mark across major cities
Fuel prices across major cities rose for the fifth consecutive day on Monday with petrol prices crossing the Rs 80 per litre mark.
Petrol prices touched Rs 80.73/litre in Delhi and Rs 88.12/litre in Mumbai.
Petrol prices in Kolkata, Mumbai and Chennai also rose to Rs 83.61 per litre, Rs 88.12 per litre, and Rs 83.91 a litre, respectively.
Diesel prices also rose in major cities with Delhi recording prices at Rs 72.83 a litre, Kolkata at Rs 75.68 per litre, Mumbai at Rs 77.32 per litre and Chennai at Rs 76.98 per litre.
Prices have been on the rise since mid-August due to various factors including rupee depreciation, high excise duty and rise in crude oil rates. International Brent crude futures added 37 cents to $77.20 a barrel on Monday.
On the currency front, the Indian rupee settled above Rs 71 to dollar in the spot market for the week ended on Friday. It closed at 71.73, stronger by 26 paise than its previous close of 71.99 per greenback.
Most of the opposition parties on Sunday announced their support to the Bharat Bandh called by the Congress and Left Front to protest against the rising fuel prices and have a showdown with the Modi government that has evaded a direct explanation to the non-stop rise in fuel prices.
The Congress wants petrol and diesel to be brought under the Goods and Services Tax (GST), which would decrease the price "by Rs 15-18 per litre". It also wants an immediate reduction in central excise duty and "excessive VAT" in states.
The rising diesel price is expected to flare up inflation as the fuel is primarily used to transport most of the goods including agriculture products.
As per the country's pricing mechanism, the domestic fuel prices are dependent upon the international fuel prices on a 15-day average and the value of the rupee.