Fuel prices hiked for 11th consecutive day; petrol crosses Rs-90 mark in Delhi
Photo Credit: PTI

Petrol and diesel prices touched new highs across the country on Friday after oil marketing companies (OMCs) increased the rates for the 11th consecutive day.

According to a price notification of state-owned fuel retailers, petrol price was increased by 31 paise, while diesel was hiked by 33 paise in Delhi.

With this increase, petrol is now priced at Rs 90.19 a litre and diesel at Rs 80.60 a litre in the national capital.

In the last 11 days (since 9 February), petrol price has gone up by Rs 2.93 per litre, while diesel rate has risen by Rs 3.14 a litre.

In Mumbai, petrol price rose to Rs 96.62 a litre, and diesel was priced at Rs 87.67.

Petrol price in Kolkata was hiked to Rs 91.41 per litre from Rs 91.11, while diesel rate was raised to Rs 84.19 a litre from Rs 83.86.

In Chennai, petrol is retailing at Rs 92.26 a litre, while diesel price peaked to Rs 85.64 a litre.

Meanwhile, branded or additive-laced petrol, which attracts higher taxes, had crossed the Rs-100 mark in some places in states like Maharashtra, Madhya Pradesh, and Rajasthan.

The increase on Friday has followed the firming global oil prices (both product and crude) that have maintained a record streak of gains in the past few days with crude prices crossing the $65-a-barrel mark.

Since fuel prices are benchmarked to a 15-day rolling average of global refined products' prices and dollar exchange rate, pump prices can be expected to remain northbound over the next few days even if crude hovers at the current level.

Petrol and diesel prices have increased 22 times in 2021, with the two auto fuels increasing by Rs 6.17 and Rs 6.40 per litre respectively so far this year.

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

(With inputs from agencies)

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