Petrol and diesel prices soared to new record highs across the country on Tuesday after rates were hiked again by 25 paise and 30 paise a litre, respectively. 30 paise a litre, respectively.
The price of petrol in Delhi rose to its highest ever level of Rs 102.64 a litre and to Rs 108.67 in Mumbai, according to a price notification of state-owned fuel retailers. Diesel rates too touched a record high of Rs 91.07 in Delhi and Rs 98.80 a litre in Mumbai.
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In Kolkata, petrol is available at Rs 103.36 and diesel at Rs 94.17 per litre and in Chennai one has to pay Rs 100.23 for one litre of petrol and Rs 95.59 for one litre of diesel. Prices differ from state to state depending on the incidence of local taxes.
The price hike follows international oil prices soaring to near three-year high as global output disruptions forced energy companies to draw more crude oil out of their stockpile. State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) resumed daily price revisions on September 24 after international oil prices neared a three-year high. Global benchmark Brent crude is trading above $78 per barrel.
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When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre. Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.
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