New Delhi: Petrol price on Friday were unchanged, a day after it had hit all-time high in Delhi as state-owned oil marketing companies hiked rates after 29 day hiatus.
Petrol price was raised by 23 paise per litre and diesel by 26 paise a litre in the state capital, according to a price notification from oil marketing companies on January 7. After this increase, petrol in Delhi climbed to Rs 84.20 per litre from Rs 83.97 previously. Diesel rates rose to Rs 74.38 per litre from Rs 74.12. In Mumbai, diesel touched an all-time high of 81.07 from previous price of Rs 80.78.
This is the second price revision in nearly a month and rates are now near an all-time high. Fuel prices were hiked for the sixth straight day on December 7 by the oil marketing companies leading rates to touch 2-yrear high.
Here is looking at the price difference of diesel and petrol in four metro cities on January 8, 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 was up 0.39% at $54.59 a barrel after touching $54.90, a high not seen since before the first COVID-19 lockdowns in the West. U.S. West Texas Intermediate (WTI) rose 0.45% to $51.06, a Reuters report said.
With Agency Inputs