Petrol hits ₹100/L in Rajasthan’s Sri Ganganagar, nears ₹90/L in Delhi
The price of petrol touched ₹100 a litre in a Rajasthan district and rose to record highs elsewhere, even as Prime Minister Narendra Modi criticised the governments that came before his for not doing enough to address India’s dependance on imports for oil, and petroleum minister Dharmendra Pradhan appealed to major oil producers to relax their self-imposed production cuts.
The retail price of petrol crossed ₹100 per litre in Rajasthan’s Sri Ganganagar on Wednesday, the first time the fuel was sold at rates in the three digits anywhere in the country, as rising global crude oil prices and tight fiscal headroom appeared to limit the government’s ability to restrain the spike. In Delhi, petrol retailed at ₹89.54 a litre.
The government has urged the oil producers’ cartel – the Organisation of Petrol Exporting Countries (OPEC) – as well as allies such as Russia to ease production cuts as higher prices are hitting demand and adding to inflation.
