Petrol Prices Hit All-time High at Rs 84.95/Litre in Delhi, Touches Rs 91.56 in Mumbai


Petrol and Diesel Prices Today: Fuel prices in India have rose again, with petrol hitting an all-time high of Rs 85.95 per litre in Delhi, a 25 paise hike compared to a day ago, when it was Rs 84.70 per litre. Diesel prices, on the other hand, saw a similar hike, going up from Rs 74.88 per litre to Rs 75.13 per litre, in the national capital. Also Read – Petrol, Diesel Prices Increase in Delhi After Nearly Two-month Break

At the same time, petrol prices in Mumbai touched a whopping Rs 91.56 per litre, while diesel prices have risen to Rs 81.87 per litre. Also Read – Diesel Price in Delhi Slashed by Over Rs 8 Per Litre as Govt Cuts VAT From 30% to 16.75%

Petrol and diesel prices went up by 25 paisa per litre each on Monday after oil marketing companies decided to break their three-day pause on price revision in wake enlarging under recovery on sale of the two petroleum products. Also Read – Petrol, Diesel Price Today: Crude Oil Rates in Delhi Hike Again After Single-day Freeze

The increase in pump price of petrol and diesel came on a day when global oil prices have a glimpse of softening with crude falling below $55 a barrel after almost a week of hovering above that range.

With Monday’s increase, petrol is being sold at Rs 84.95 a litre in Delhi from previous day price of Rs 84.70 a litre. Similarly, diesel prices also increased to Rs 75.13 a litre, up from previous day’s level of Rs 74.88 a litre.

Across the country as well pump price of petrol and diesel increased but the quantum of the rise varied from state to state depending on level of taxation on the two petroleum products.

Auto fuel price rise was on hold for last three days after petrol and diesel prices had increased on two successive days last week on Wednesday and Thursday taking gasoline to new record high levels in Delhi and several other places in the country.

It had risen on two days in the week prior to last week as well.

OMCs ran out of patience on Wednesday as global crude prices have risen sharply lately taking benchmark Brent crude price to over $57 a barrel now and rising. The rise is primarily on account of Saudi Arabia’s decision on unilateral production cuts to balance oil prices on pandemic affected demand reduction in an oversupplied market.

At Rs 84.95 a litre in Delhi, petrol price has already breached the highest level in the national capital this year after October 4, 2018, when the rate had risen to Rs 84 a litre.

Petrol price was very close to breaching the all-time high level of Rs 84 a litre (reached on October 4, 2018) when it touched Rs 83.71 a litre on December 7, 2020. But the march had been halted ever since then with no price revision by the OMCs.

Oil companies executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making loss on sale of auto fuels.

(With inputs from IANS)





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