The previous all-time high price of petrol was <span class='webrupee'>₹</span>84 a litre on October 4, 2018.(REUTERS)
The previous all-time high price of petrol was 84 a litre on October 4, 2018.(REUTERS)

Petrol crosses 86-mark in Delhi, diesel above 83 per litre in Mumbai

The price data showed that diesel rate rose to 76.23 a litre in Delhi and to 83.03 per litre in Mumbai.
By hindustantimes.com | Written by Susmita Pakrasi, New Delhi
PUBLISHED ON JAN 26, 2021 12:22 PM IST

Petrol price on Tuesday crossed 86 per litre mark in Delhi and diesel soared above 76, after the rates witnessed maximum increase in the last one year. Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.

According to a price notification from oil marketing companies, petrol and diesel prices were hiked by 35 paise per litre each. This took petrol price in Delhi to 86.05 per litre and 92.62 in Mumbai.

The price data showed that diesel rate rose to 76.23 a litre in Delhi and to 83.03 per litre in Mumbai. Fuel prices, which vary from state to state depending on local sales tax or Value Added Tax (VAT), are now at a record high in the nation.

Last week, Oil minister Dharmendra Pradhan put the blame on Saudi oil output cut for the surge in oil prices.

Top oil explorer Saudi Arabia has pledged additional voluntary output cuts of 1 million barrels per day in February and March, which has led to price climbing to most since the coronavirus pandemic broke out.

State-owned fuel retailers -- Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- had on January 6, resumed daily price revision after nearly a month-long gap.

Since then, the rates have gone up by 2.34 a litre on petrol and 2.36 in case of diesel. This comes after international oil prices firmed up in hopes of demand returning from the rollout of coronavirus vaccines in different countries, including India.

(With inputs from agencies)

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