Petrol and diesel prices remained unchanged for a third consecutive day on Saturday, after touching all-time highs on Wednesday.
Petrol and diesel prices in Delhi stayed at Rs 86.30 and Rs 76.48 per litre, respectively, according to a price notification issued by oil marketing companies. Fuel prices in Mumbai too remained constant with petrol and diesel being sold at Rs 92.86 and Rs 83.30 per litre, respectively.
In Chennai and Kolkata, petrol is selling at Rs 88.82 and Rs 87.69 per litre and diesel at Rs 81.71 and Rs 80.08 per litre, respectively.
The current price of petrol is the highest ever in the national capital, while diesel is at a record high in Mumbai.
Petrol and diesel prices are revised daily in line with the benchmark international price and foreign exchange rates. They vary from state to state depending on the local taxes.
Top oil explorer Saudi Arabia pledging additional voluntary output cuts and demand returning following the roll out of coronavirus vaccines has led to a surge in international oil prices.
Since then, rates have gone up by Rs 2.59 a litre on petrol and Rs 2.61 in the case of diesel.
Before the current high crude prices triggered the fuel rate hike this month, fuel prices had last touched a record high on 4 October 2018. At that time, the government had cut excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence; simultaneously, state-owned fuel retailers had cut prices by another Re 1 a litre, which they had recouped later. This time, there are no indications of a duty cut so far.
(With inputs from agencies)
