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Petrol, Diesel Prices Touch New All-Time Highs; Petrol Crosses Rs 89 Mark In Delhi


Domestic petrol and diesel prices vary from state to state due to value added tax (VAT).

Petrol, Diesel Prices Today: Petrol and diesel prices touched fresh all-time highs across the four metros on Tuesday, February 16, after oil marketing companies increased the rates by around 30 paise for the eighth straight day. In Delhi, the price of petrol was hiked by 30 paise from Rs 88.99 to Rs 89.29 per litre, and diesel was increased by 35 paise from Rs 79.35 per litre to Rs  79.70 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel rates stood at Rs 95.75 per litre and Rs 86.72 per litre respectively. Currently, the fuel rates are the highest in Mumbai, among all the four metros. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)

Here are the current prices of petrol and diesel (in rupees per litre):

City Petrol Diesel
Delhi 89.29 79.70
Mumbai 95.75 86.72
Chennai 91.45 84.77
Kolkata 90.54 83.29
Source: Indian Oil

Petrol and diesel prices have recorded an upswing since January 6, 2021, after staying unchanged for almost a month. The fuel prices have increased amid a rally in global crude oil prices, with Covid-19 vaccination drives continuing across the world. 

Oil marketing companies  – Bharat Petroleum, Indian Oil Corporation, as well as Hindustan Petroleum align the rates of domestic fuel with the global benchmarks, by taking into account any alterations in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

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Meanwhile, oil prices soared to their highest in about 13 months on Monday as vaccine rollouts promised to revive demand and producers kept supply reined in. Brent crude was up 93 cents, or 1.5 per cent, at $63.36 a barrel by 1523 GMT after hitting a session peak of $63.76, its highest since January 22 last year.



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