Increase in prices of petrol and diesel in India will increase Inflation

The rising price of petrol in India has so far reached the highest level in Delhi and Mumbai, and on Monday it was Rs 76.57 and Rs 84.49 respectively.

In India on Sunday, prices of petrol and diesel broke their previous record of height. Earlier, in 2013, the prices of petrol in Delhi and Mumbai were Rs 76.24 and Rs 84.07 respectively.

On Monday, the prices of petrol and diesel in other major cities such as Kolkata and Chennai were highest in five years. On Monday, the price of petrol in Kolkata was Rs 79.24 and Chennai was Rs 79.47 per liter.

The rise in prices of petrol and diesel is due to increase in the prices of crude oil and high rates of taxes being levied by the government. On Monday, the price of crude oil was $ 79 a barrel (159 liters in a barrel).

Diesel prices have already reached unprecedented levels and are making a new record of costly selling across India. On Monday, in Delhi, Kolkata, Mumbai and Chennai, diesel sold at Rs 67.82, Rs 70.37, Rs 72.21 and Rs 71.59 per liter respectively.