Petrol and diesel prices hit all-time high, check new rates

Petrol and diesel prices on Tuesday hit record highs across the country after rates were increased for the second consecutive day.

As compared to Monday, petrol has become costlier by 27 paise while the price of diesel has increased by 30 paise.

After today’s hike, petrol prices in Delhi climbed to Rs 91.80, while diesel price rose to Rs 82.36 per litre.

Meanwhile, petrol price is all set to touch Rs 100-mark in the financial capital. In Mumbai, the petrol price was hiked to Rs 98.12 a litre on Monday from Rs 97.86, while diesel rates were increased to Rs 89.48 from Rs 89.17.

In Kolkata, petrol stood at Rs 91.92 per litre and diesel at Rs 85.20 per litre and in Chennai, petrol stood at Rs 93.62 per litre and diesel at Rs 87.25 per litre.

While petrol prices had crossed the Rs 100-mark in some places in Rajasthan and Madhya Pradesh a few days back, Maharashtra's Parbhani joined the league on Monday.

This was the sixth increase in prices since May 4, when the state-owned oil firms ended an 18-hiatus in rate revision during assembly elections in states like West Bengal.

After raising petrol price by a record Rs 21.58 per litre and diesel by Rs 19.18 since the government raised excise duty to an all-time high in March last year, state-owned fuel retailers, IOC, BPCL and HPCL had reduced petrol price by 67 paise a litre and diesel by 74 paise per litre effected between March 24 and April 15.

Oil companies, who have in recent months resorted to an unexplained freeze in rate revision, had hit a pause button after cutting prices marginally on April 15. This coincided with electioneering hitting a peak to elect new governments in five states including West Bengal.

No sooner had voting ended, oil companies indicated an impending increase in retail prices in view of firming trends in international oil markets.

They said prices have been on a continuous uptrend since April 27, crude oil price is hovering near USD 70-per-barrel mark.

Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 on diesel.

(With inputs from Agencies)

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