Fuel prices shoot up again

New Delhi: The oil pinch continued on Thursday with petrol and diesel prices being hiked again.

In New Delhi, petrol is being retailed at Rs 83.00 per litre, while diesel is being sold at Rs 74.24 per litre.

Meanwhile, a litre of petrol has touched Rs 90.35 in Mumbai, while diesel has been capped at Rs 78.82 per litre.

Fuel prices have been witnessing a steep rise since the past few weeks. While the Opposition has blamed the union government for not doing enough to keep a check on prices, the latter has maintained that global crude oil prices and other international factors are causing a hike in prices of petroleum products.

As per India’s pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the Indian rupee.