In India, fuels prices are increasing day by day and today it raised and sold off at Rs 82.72 per litre in Delhi while the rate of diesel was Rs 75.38 per litre. In the national capital of India, the petrol price is raised by 60 paise while diesel's price increased by around 19 paise per litre.
Also, in Mumbai, petrol is being sold at Rs 88.18 per litre while diesel is at Rs 79.02, as per the notification by Indian Oil Corporation, the country's largest fuel retailer. In Chennai, petrol and diesel prices are at Rs. 85.99 and Rs. 79.71 per litre respectively. While in Kolkata petrol and diesel prices were at Rs. 84.54 per litre and Rs. 79.71 per litre respectively. Right now, on a daily basis, oil marketing companies (OMCs) is making changes in the price of fuels.
On the 4th of October, the central government had declared a reduction of Rs. 2.5 per litre in the prices of petrol and diesel and following the same, many states decreased the fuel prices. Still, there is a rise in the price of fuels daily.
In between the increasing price of fuel, consumption of domestic monthly diesel fell for the first time in 10 months year-on-year in September. According to a Reuters report, "Diesel sales declined by 0.8 per cent to 6.03 million tonnes in September. Petrol sales grew by the least in four months".
A news agency Indo Asian News Agency (IANS) reported that on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) lowered its estimation of global oil demand next year because of the slower economic growth and US shale output growth. With this rise, people are worried about their monthly budget.
Due to this rise in the fuel, the value of rupee has been under pressure as India comes on the third number in the consumption of oil in the world.
Amid all above of this, the common people will suffer the most.