Fuel prices are continued to surge to record high levels on Monday, November 1, for the sixth straight day. In the national capital, petrol and diesel rates soared 35 paise to cost ₹ 109.69 and ₹ 98.42 per litre respectively, as per Indian Oil Corporation.
In Mumbai, a litre of petrol now costs ₹ 115.50, and diesel is sold at ₹ 106.62 per litre. Petrol prices in Chennai moved above the ₹ 106 per litre-mark and is currently sold at ₹ 106.35 per litre; while diesel rate stood at 102.59. Among the four metro cities, fuel rates are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax or VAT.
Union Minister Dharmendra Pradhan, who formerly served as Minister of Petroleum and Natural Gas, said the government is concerned about inflation. Pradhan said, India imports 80% of petroleum products, which has resulted in price increases.
Pradhan stated that, the petroleum ministry will speak with members of OPEC (Organization of Petroleum Exporting Countries) and that the situation will improve following the meetings. He also reaffirmed Prime Minister Narendra Modi’s objective of transforming India into “Atmanirbhar Bharat.”
