Petrol and Diesel Reach Record Prices in Kashmir.

Petroleum prices continue to surge and people in Kashmir continue to suffer as rates reach record levels in the valley.

As per the details gathered from Oil Marketing Companies (OMCs), petrol is being sold at Rs 107.4 a litre, and diesel at Rs 97.3 per litre, implying that the fuel prices are at its peak in Kashmir.

According to market experts, the rising fuel prices have serious implications on the economy as it leads to inflation as well as eats up the common man’s savings. As per the Government of India’s data, the inflation rate in J&K is 7.39 percent, which is the highest in India.

There is a growing demand in Kashmir seeking the government’s intervention to cut down taxes on petroleum products like the administration did with Aviation Turbine Fuel (ATF) used by air carriers.

Consumers have faced an unprecedented increase in auto fuel prices for the past one month that has taken retail rates to record high levels across the country.

Accordingly, in the national capital, petrol continues to be sold at Rs 104.44 per litre and diesel at Rs 93.17 per litre, the same levels as Monday.

In India’s financial capital, Mumbai, where petrol became costlier by 29 paise per litre on Monday, its retail rate remained static at Rs 110.41 on Tuesday, the highest across all the four metro cities. Diesel also costs Rs 101.03 for one litre in Mumbai.