After a lull for nearly a month diesel prices in Mumbai were at a record high of Rs 81.07 per litre whereas petrol prices stood at Rs 90.83 a litre
Diesel went up by 27 paise. Both auto fuels have risen by more than Rs 14 over the last 10 months—one of their steepest in recent years. The prices rose in Thane and Navi Mumbai too, on Wednesday petrol retailing price was at Rs 90.72 per litre and diesel at Rs 80.9.
Meanwhile petrol price in Delhi also reached to an all-time high of Rs 84.20 per litre on Thursday after state-owned fuel retailers hiked rates for the second day in a row. This being the highest ever petrol price in Delhi, after October 4, 2018 when its price had risen to Rs 84 a litre.
Petrol prices have breached all-time high levels in the new year as rising global oil prices have forced the fuel marketing companies to raise the pump price of auto fuels for the second time this year on Thursday.
With benchmark Brent crude on the rise for the past few days over the news of coronavirus vaccine being rolled out and continuation of production cuts by OPEC+, fuel prices in India could see further rise in coming weeks.
The increase in fuel prices comes after a jump in oil prices in the international market, where brent crude is currently trading at close to $55 a barrel, a $ 5 increase in just around a weeks’ time.
Common man is worried about the rising fuel prices with concerns that petrol prices might touch Rs 100 per litre making things worse for them.