Petrol, Diesel Prices Touch Record Highs After 2-Day Pause

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Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).

Petrol, Diesel Prices Today: The petrol and diesel prices touched fresh record highs across the four metros on Tuesday, February 23, after a temporary pause of two days. In Delhi, the price of petrol was hiked by 35 paise from Rs 90.58 per litre to Rs 90.93 per litre and diesel was increased by an equal amount from Rs 80.97 per litre to Rs 81.32 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 97.34 per litre and Rs 88.44 per litre respectively. Currently, among the four metro cities, the fuel rates are the highest in Mumbai. (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 90.93 81.32
Mumbai 97.34 88.44
Chennai 92.90 86.31
Kolkata 91.12 84.20
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 coronavirus vaccination drives 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 changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

Meanwhile, oil prices rose again on Tuesday after a jump in the previous session, holding near a more than 13-month high as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week.

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Brent crude futures were up 28 cents, or 0.4 per cent, at $65.52 a barrel by 0102 GMT, while U.S. crude oil rose 14 cents, or 0.2 per cent, to $61.84 a barrel. Both benchmarks rose nearly 4 per cent in the previous session.



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