New Delhi: Petrol and diesel prices hit new record highs on Friday after oil marketing kept rates unchanged for two straight days.
State-owned oil marketing companies hiked petrol prices in Delhi by 25 paise per litre to Rs 85.45 from Rs 85.20 per litre while diesel prices too were hiked by 25 paise to Rs 75.63 from Rs 75.38 per litre , as per data available in Indian Oil Corporation. In Mumbai, diesel prices were hiked to Rs 91.80 per litre, thus witnessing new record high.
Here is looking at the price difference of diesel and petrol in four metro cities on January 22, 2021.
Highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018. Diesel too had scaled to an all-time high of Rs 75.45 a litre on October 4, 2018.
On that day, the government cut excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.
Since May 2020, petrol price has risen by Rs 14.28 per litre and diesel by Rs 11.83 a litre, price notifications of oil companies showed.
When petrol scaled its highest levels in Delhi on October 4, 2018, the fuel touched a new high of Rs 91.34 in Mumbai. On Wednesday it costs Rs 90.60 a litre in Mumbai. Diesel in Mumbai on Wednesday at Rs 80.78 a litre is higher than the October 4, 2018 rate of Rs 80.10.
Brent crude futures fell 3 cents to $56.05 a barrel by 11:27 a.m. EST (1627 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 14 cents to $53.17 a barrel, a Reuters report said.
With Agency Inputs