Petrol, Diesel Prices Touch Fresh Record Highs On Tuesday

The price of petrol was hiked by 35 paise to Rs 87.30 per litre and diesel rate was increased by a similar amount to Rs 77.48 per litre in Delhi, according to Indian Oil Corporation

Petrol, Diesel Prices Touch Fresh Record Highs On Tuesday

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

Petrol, Diesel Prices Today: Petrol and diesel prices touched new highs across the metros on Tuesday February 9 after oil marketing companies increased the rates by 35 paise after a 3-day lull. The price of petrol was hiked by 35 paise from Rs 86.95 per litre to Rs 87.30 per litre, and diesel rate was increased by a similar amount from Rs 77.13 per litre to Rs 77.48 per litre in Delhi, according to Indian Oil Corporation, the country's largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel rates stood at Rs 93.83 per litre and Rs 84.36 per litre respectively, the highest among all four metros. (Also ReadHow To Check Latest Petrol And Diesel Rates In Your City)

Here are the current prices of petrol and diesel (in rupees per litre):

CityPetrolDiesel
Delhi87.3077.48
Mumbai93.8384.36
Chennai89.7082.66
Kolkata88.6381.06
Source: Indian Oil

Petrol and diesel 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. 

Oil marketing companies  - Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices 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 edged up on Tuesday to their highest in 13 months as supply cuts by major producers and optimism over fuel demand recovery support energy markets.

Brent crude futures for April gained 29 cents, or 0.5 per cent, to $60.85 a barrel by 0246 GMT. U.S. West Texas Intermediate crude (WTI) for March was at $58.25 a barrel, up 28 cents, or 0.5 per cent.