Rising fuel prices burn a hole in common man's pocket

The upward climb in fuel prices is burning a hole in the pocket of the common man, whose monthly budget is already reeling under the impact of the Covid-19 pandemic.

There has been a meteoric rise in domestic fuel prices since the first week of May. Petrol and diesel prices have been hiked 35 times during the period and both essential fuels have become dearer by at least Rs 7-8 per litre.

As of today, there are nearly two dozen cities where petrol is retailing over Rs 100 per litre including major cities and smaller towns. In Mumbai, a litre of petrol is currently retailing at almost Rs 106 per litre, while it is all set to cross Rs 100 per litre in Delhi for the first time.

Diesel prices are also rising rapidly across the country and there are hardly a few cities left where the retail rates are below Rs 90 per litre. In Rajasthan’s Sri Ganganagar, diesel price has crossed the three-figure mark.