Petrol, Diesel Prices Hiked Again

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New Delhi: Petrol and diesel prices on Thursday were hiked for the second straight day on Thursday. According to a price notification of state-owned fuel retailers, the pump price of petrol in Delhi rose by 35 paisa to its highest-ever level of Rs 106.54 a litre while diesel prices rose by its highest margin so far this year of 45 paisa to Rs 95.27 a litre.

In Mumbai, petrol prices have now risen to Rs 112.45 per litre while diesel to Rs 103.36 a litre, the highest among all metros.

In terms of price movement, diesel rates have increased on 21 out of the last 27 days taking up its retail price by Rs 6.75 per litre in Delhi.

The fuel is now available at over Rs 100 a litre in several parts of the country.

Besides, petrol prices which had maintained stability since September 5 were finally raised last week.

Consequently, the petrol prices were raised on 18 of the previous 23 days taking up its pump price by Rs 5.35 per litre.

Crude price has been on a surge rising over three year high level of over $85 a barrel now as global demand remains firm while ‘OPEC+’ continues to move slowly on increasing production.

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

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