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Over the Roof Fuel Costs, Land-Sliding Rupee

September 17, 2018, 18:24 ISTIndia

The rupee after registering a life-time low at 72.91 appreciated by 60 paise in late trade last Wednesday. However, the masses will only stop feeling the pinch once fuel prices come down. Experts are of the opinion that petrol and diesel prices will surge further due to lack of supply in the global oil market. “In the near future what we can expect fuel prices to go further up, especially due to the geopolitics involving Iranian oil that is obviously creating a shortage of oil in the market,” said Jaijit Bhattarcharya, Partner, KPMG. Petrol prices hit lifetime high when the Rs 90 a litre mark was breached in Maharashtra last Tuesday.​