Petrol price inches closer to Rs 90-mark in Delhi after fresh hike

New Delhi, Feb 17: Petrol and diesel prices on Wednesday were hiked for the eighth time in the last ten days as a rally in international oil prices took retail rates in India to new highs.

With just a day's breather for common man, Petrol and diesel price was increased by 25 paise each in Delhi to stand at Rs 89.54/litre and Rs 79.95/litre respectively.

In seven straight days, prices have gone up by Rs 2.04 per litre for petrol and Rs 2.22 for diesel.

The relentless hike in prices has been criticised by the opposition parties including Congress that has demanded an immediate cut in taxes to ease the burden on the common man.

A six-hour bandh called by the party in Odisha affected normal life on Monday.

Oil Minister Dharmendra Pradhan last week had told Parliament that the government is not considering a reduction in excise duty to cool rates from their record highs.

Central and state taxes make up for over 61 per cent of the retail selling price of petrol and about 56 per cent of diesel.