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Petrol, diesel prices hiked for third straight day

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

Petrol, diesel prices hiked for third straight day
SHARES

On Thursday, February 11, fuel rates have moved up all over again. With this hike, the rates have touched new highs. Today marks the third consecutive day of fuel hike in India.

The oil marketing companies increased the rates by up to 24 paise for petrol and diesel by 30 paise a litre. After today’s hike, petrol and diesel in Mumbai are available for at INR 94.36 per litre and INR 84.94 a litre respectively.

Meanwhile, the petrol prices also scaled new highs across the metro by 25 paise per litre and that of diesel by 30 paise a litre, making them costlier by INR 1.55 per litre since the Union Budget was presented on February 1 that restructured Central levies on them to carve out a dedicated fund for the agriculture sector.

Petrol Retail prices of the transport fuels differ across the country due to variations in local levies.

City            Petrol     Diesel

Delhi          87.85     78.03

Mumbai    94.36     84.94

Chennai     90.18    83.18

Kolkata       89.16    81.61

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

Moreover, oil prices rose on Wednesday, February 10, extending its rally for a ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes vaccine rollouts will drive a recovery in demand. Yesterday, the petrol price in Mumbai was INR 94.12 per litre while that of diesel is INR 84.63.

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