Petrol prices on Friday hit a new high in Mumbai and Delhi, as oil marketing companies raised the rate by 24–25 paise per litre, after holding prices steady for two consecutive days.
In Delhi, petrol now costs Rs 85.45 per litre and diesel Rs 75.63. Petrol prices in Mumbai, Chennai, and Kolkata are Rs 92.04, Rs 88.07, and Rs 86.87 per litre, respectively; diesel prices in these three cities, on the other hand, are Rs 82.40, Rs 80.90, and Rs 79.23 per litre, respectively.
The current rate of petrol is the highest ever in the national capital, while diesel is at a record high in Mumbai. This price rise is largely on account of the steep increase in central taxes on petrol and diesel and firm crude prices.
At Rs 85.45 a litre in Delhi, petrol price has breached the highest level in the national capital after October 4, 2018, when the rate had risen to Rs 84 a litre.
Retail prices of the two fuels are revised daily. Petroleum companies revise petrol and diesel prices on the basis of crude prices in the international market. Hence, the prices vary according to the company.
State-owned fuel retailers—Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd., and Hindustan Petroleum Corporation Ltd.—had on January 6 resumed daily price revision after nearly a month-long hiatus.
(With inputs from agencies)