PRESS TRUST OF INDIA
New Delhi, Jan 14: Petrol and diesel prices Thursday were hiked by 25 paise per litre each, the second straight day of increase in rates that took the prices to new highs
Petrol now costs ?84.70 per litre in Delhi and diesel is priced at ?74>:, according to a price notification from oil marketing companies. This is the second straight clay of aprice increase. Rates were hiked by 25 paise each Wednesday after a five-day hiatus. InMumbai, the price of petrol was increased to Z91.32 a litrefrom Z91.07 pre-viously, while diesel rates went up from Z81.34 to Z81.60 per litre
. Petrol price is at a record high in Delhi and is just a shy away from the highest everrate of Z9L34 inMumbai Diesel price inMumbai is at an all-time high.
State-owned fuel retail-ers-Indian Oil Corporation Ltd (10C), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -had January 6, resumed daily price revision after nearly a month-long hiatus.
Rates were hiked on two consecutive days – totalling 49 paise for petrol and 51 PRICES IN BHUB Petrol – 285.36/LTR (+10.25) Diesel- 281.58/LTR (+10.27) paise for diesel – before they hit a pause button again.
The price increase cycle resumed Wednesday after in-ternational oil prices rose to their highest level since February 2020, before the coronavirus outbreak in China began spreading across the world, forcing -C lockdowns that shaved off demand. Rates, however, eased a bit on Thursday with Brent down 11 cents to $55.95 per barrel while NYMEX light sweet crude was down 10 cents at $52.81
The highest ever rate of diesel in Delhi was touched October 4, 2018, when it touched Z75.45 a litre mark. On that day petrol was priced at Z84. InMumbai, the highest level for petrol was also on the same day when it scaled to t91.34. The gov-ernment had responded to_c the situation in October \, 2018, by cutting excise duty on petrol and diesel by ?1.50 per litre.