Fuel prices rise for 8th straight day

NEW DELHI, SEP 24 (AGENCIES) | Publish Date: 9/24/2019 12:03:09 PM IST

The oil marketing companies (OMCs) on Tuesday raised the prices of petrol and diesel for the eighth straight day following drone attack on the Saudi oil plants. 

In the last eight days, petrol prices have risen by Rs 2.1 and diesel rates have surged by Rs 1.64.

In Delhi, after Tuesday’s rate revision, petrol prices climbed to Rs 74.13 a litre while diesel price went up to Rs 67.07 per litre.

A litre of petrol in Dimapur and Kohima was retailing at Rs. 72.01 and Rs. 72.45 respectively while the price of diesel in the commercial hub of Nagaland and the state capital stood at Rs. 64.81 and Rs. 65.21 respectively.

The global crude prices are on the rise since drone attack on key oil facilities in Saudi Arabia that disabled 5 per cent of the world’s oil supply.

Meanwhile, according to ET Now report, petrol and diesel may become costlier in the coming days as government is considering excise duty hike on petrol and diesel to increase the revenue. ET Now learnt exclusively from sources that petrol, diesel excise duty hike is on the cards.

Sources told the channel that the discussion is at an exploratory level at the moment. So far, there have been very premature early discussion on the issue between the stakeholders like PMO, Finance Minister and Oil Ministry. The channel learnt that there could be a hike of Rs 1-2 per litre on both petrol and diesel.

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