New Delhi: Continuing their upward swing for the 14th straight day, petrol prices stood at Rs 78.12 and diesel at Rs 69.06 in the national capital on Sunday.
After the revision in prices on Sunday, applicable from 6:00 am, petrol was retailing at Rs 78.12 in Delhi, Rs 80.76 in Kolkata, Rs 85.93 in Mumbai and at Rs 81.11 in Chennai.
At the same time diesel was retailed at Rs 69.06 in Delhi, Rs 71.61 in Kolkata, Rs 73.53 in Mumbai and Rs 72.91 at Chennai at Indian Oil pumps.
The impact of the hike can be seen both on the consumers and the government as this continuous increase in the fuel prices is a threat to inflation and current account deficit.
India imports nearly 80 per cent of its fuel requirement, reports said.
Increasing fuel prices are also putting pressure on the Indian rupee, which is trading near Rs 68 level against the US dollar.
Despite of government’s promises to take steps to minimise the excise duty on fuel by at least Rs 2-4, nothing has happened so far. The government had cut excise duty last in October by Rs 2 per litre.
