After sharp rise, the prices of petrol and diesel remained unchanged on Tuesday. On Monday, petrol and diesel prices were hiked by 26-30 paise per litre.
A steady rise in fuel prices has now brought petrol prices to Rs 90.34 a litre in Mumbai. While the price of diesel, which stood at Rs 80.51, is the highest in Mumbai in two decades. According to reports, diesel was at its lowest in two decades on June 4, 2002 when the rate was Rs 22.84 a litre at the pumps.
Fuel prices in other metros have also risen. In Delhi, petrol currently costs Rs 83.71 and diesel Rs 73.87 for a litre. In Kolkata, petrol is priced at Rs 85.19 per litre and diesel at Rs 77.44 per litre. Petrol is priced at Rs 86.51 a litre in Chennai and diesel costs Rs 79.21 per litre.
Rates are now at the highest level since September 2018. In 18 days, the petrol price has gone up by Rs 2.65 per litre and diesel rate has risen by Rs 3.41.
Global crude prices have firmed up recently over the news of successful coronavirus vaccine. It has risen almost $10 a barrel in last one month to reach closer to $50 a barrel now. However, even at that level, it is far less than the average crude price of $80.08 a barrel in October 2018 when petrol prices reached highs of Rs 84 a litre in the national capital.
With Monday's increase, fuel prices have now increased on 15 of the past 18 days with petrol prices rising by Rs 2.65 per litre and diesel by 3.41 a litre. Petrol prices had been static since September 22, and diesel rates hadn't changed since October 2.
