Petrol price crosses Rs 91 mark, diesel costliest ever

Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies. This took the cost of petrol in the Capital to Rs 84.45 per litre.

The auto fuel price rise was on hold for the last five days after the petrol and diesel prices had increased on two successive days last Wednesday and Thursday taking gasoline to record high levels in Delhi while keeping its prices very close to record high levels in other metro cities.

Brent crude, the global benchmark for oil prices was up 47 cents, or 0.8%, to $57.05 per barrel, after having risen 1.7% in the previous session.

Both benchmarks are trading at the highest since February, before the coronavirus outbreak in China began spreading across the world, forcing lockdowns that shaved off demand. Earlier on 4 October 2018, the price of petrol in the capital was at a record level of ₹84 per litre. Diesel increased to Rs 74.63 per litre. The petrol price was higher than this level over four and a half years ago, i.e. on September 14, 2013, when the price had surged past Rs. 76. Similarly in Kolkata, petrol has reached Rs 85.92 and diesel Rs 78.22 and in Chennai, petrol has reached Rs 87.18 and diesel Rs 79.95. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later. Diesel increased to ₹74.63 per litre.

Oil companies executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making losses on the sale of auto fuels.

Excise duty totals Rs 32.98 per litre in petrol and Rs 31.83 in diesel.

Today, petrol in Delhi has reached Rs 84.45 and diesel Rs 74.63 per litre and in Mumbai, petrol has reached Rs 91.07 litre and diesel Rs 81.34. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives.