Diesel prices hit a record new high in four metros across the country on Thursday. Oil Marketing Companies (OMCs) marginally increased the prices of both petrol and diesel today. The rates were also increased on Wednesday. The surge in fuel prices is largely attributed to the recent rise in crude oil cost and the high excise duty levied on transportation fuel in the country. Fuel rates have been on the rise since August 16 after the rupee dipped to its lowest value against the US dollar. The domestic unit hit a new record low of 70.82 today.
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