Fuel prices register steepest daily hike, up 50 p/l

New Delhi: Domestic fuel prices witnessed the steepest hike in the year so far with around 50-paise raise on Friday across the country. Both petrol and diesel prices have been at their all-time high in the country for around a week now, due to increase in crude oil prices and depreciation in the rupee against the dollar. Weakening of the Indian rupee makes the import of crude oil expensive.

In the national capital, petrol prices rose by 48 paise to Rs 79.99 per litre on Friday, from Rs 79.51 per litre on Thursday, according to data on the Indian Oil Corporation's website.

Similarly, in the other key cities of Kolkata, Mumbai and Chennai, cost of petrol rose by 47 paise, 48 paise and 51 paise to Rs 82.88, Rs 87.39 and Rs 83.13 per litre on Friday, respectively.

Among the domestic factors, high excise duty in the country is a major factor for high fuel prices, according to market observers.