Fuel prices surged in the city on Thursday with petrol price increasing by 58 paise for each litre, bringing the price to ₹80.98 a litre from ₹80.40 a litre. Diesel price also increased to ₹70.92 for each litre from ₹70.35 a litre.
Petrol and diesel prices saw a hike for the fifth consecutive day in metro cities across the country.
Transporters have protested the daily increase in fuel prices. “There has been a consistent increase in petrol and diesel prices in the country. About 70% of the retail price of fuel constitutes Central and state taxes, which is about 275% and 255% over the base price for petrol and diesel, respectively. Transporters cannot absorb the daily hike as the freight depends mostly on demand and supply forces. The road transport fraternity of India strongly protests the daily hikes that are making their operations unviable,” said Bal Malkit Singh, chairman and former president of All India Motor Transport Congress (AIMTC).
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