Fuel Prices Hiked For The 6th Time In 2019

After a fall in prices of fuel prices over the past few days, the upward trend has finally begun. The cost of petrol and diesel witnessed an upward trend with petrol and diesel being sold at Rs. 70.13 and Rs. 64.18 per litre respectively in New Delhi. The beginning of the third week in the new year has already seen petrol prices breach the Rs. 70 mark in the national capital and this is the first time it has happened in 2019. Petrol prices saw a hike of 38 paise in Delhi while diesel prices went up by 49 paise.

In Mumbai, petrol and diesel are being retailed at Rs. 75.77 and Rs. 67.18 per litre respectively. This is the sixth occasion when fuel prices have gone up this year. Petrol prices in Kolkata stood at Rs. 75.77 per litre, Rs. 72.79 per litre in Chennai while diesel prices stood at Rs. 65.95 per litre, Rs. 67.78 per litre respectively.

Global crude oil rates have gained strength after the implementation of production cuts by top producers, recovering from levels below $50 a barrel registered last month.