Fuel prices to remain unchanged: Radebe

Fuel prices hit all-time high, petrol Rs 86.56 per litre in Mumbai

Fuel prices clock record high: Petrol at Rs 86.25 in Mumbai, highest for any metro

The petrol prices in Kolkata and Chennai are Rs 82.22 per litre and Rs 82.41 per litre respectively. In Maharashtra, the price of petrol was highest in Nanded (Rs 88.05 per litre on Monday) and this was due to tax, mainly VAT, components, which are higher there.

Fuel prices in all metro cities are once again at an all-time high. The price of petrol in Delhi was Rs. 79.15 per litre on September 3. There are reports that the devaluation of the Indian rupee against the United States dollar and hike in crude oil price in the global market could be the two reasons behind the persistent fuel price hike. In Mumbai, the price petrol touched Rs 86.56 a litre - an increase by Rs 0.58/litre - and diesel to Rs 75.54/litre - an increase by Rs 0.44/litre, respectively.

Diesel is priced at Rs 71.34 in Delhi, Rs 74.19 in Kolkata, Rs 75.74 in Mumbai and Rs 75.39 in Chennai.

"Given the weakness in the rand in the last couple of days and the rise in the oil price to above $78 a barrel, you would have thought that they would have needed to increase it".

The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹71.18 against the USA dollar on Monday, compared to the previous close of ₹70.

"I would like to mention two points, and both these subjects are external".

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"Apart from that, crises in countries like Venezuela and Iran are increasing".

The output from the OPEC rose by 220,000 barrels per day (BPD) in August to a 2018 high of 32.79 million bpd, a Reuters survey found. There is a pressure on oil prices due to a decrease in production. "Secondly, global currencies have weakened against the USA dollar", Pradhan had said in Surat.

There is no price increase for diesel or illuminating paraffin.

Globally, oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.

The fuel prices have been on fire since the beginning of August due to rising crude oil prices and low value of rupee against the U.S. dollar.

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