Fuel Prices Continue To Rise, Hit New High

New Delhi: Petrol and diesel price in India registered a record high on Friday with oil marketing companies (OMCs) again increasing it by 25 paise per litre.

According to data by oil marketing companies, the cost of one litre of petrol in Delhi has climbed to Rs 85.55 after an increase of 25 paise on Friday. Diesel is standing at Rs 75.63 per litre in the national capital.

Similarly, in Mumbai petrol price increased to Rs 92.04 a litre, a 24 paise increase from previous days price of Rs 91.80 a litre. In Chennai and Kolkata, petrol is now priced at Rs 88.07 and 86.87 a litre respectively, registering an increase of 22 and 24 paise per litre from the previous day.

Diesel, on the other hand, faced sharper increase, rising by 27 paise a litre in Mumbai from previous days’ level of Rs 82.13 a litre to Friday’s retail price of Rs 82.40 a litre. In Delhi, diesel rose 25 paise per litre to Rs 75.63 a litre, in Chennai by 23 paise per litre to Rs 80.90 a litre and in Kolkata by 26 paise per litre to Rs 79.23 a litre.

The increase in retail price of auto fuel came on a day when global crude prices showed some signs of softening declining by less than one per cent to close to $ 55 a barrel. Crude prices have remained firm for the last couple of weeks in the wake of unilateral production cuts announced by Saudi Arabia and a pick up in the consumption in all major economies globally.