Petrol, Diesel Prices Today: Petrol prices were hiked by 25 paise to touch an all-time high in the national capital on Friday, i.e. January 22. In the national capital, the price of petrol was increased by 25 paise from Rs 85.20 per litre to Rs 85.45 and diesel was hiked by an equal amount from ₹ 75.38 per litre to ₹ 75.63 per litre, according to Indian Oil Corporation, the country's largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel prices were ₹ 92.04 per litre and ₹ 82.40 per litre respectively. The current rate of petrol is the highest ever in the national capital, while diesel is at a record high in Mumbai. Fuel rates were hiked in Chennai and Kolkata as well. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel (in rupees per litre):
|Source: Indian Oil|
Petrol and diesel rates were hiked in all four metro cities today after a gap of two days. Both petrol and diesel have touched an all-time high on January 22. After being steady for almost a month, the prices have witnessed an upswing since January 6, 2021. Fuel prices have increased amid a rally in global crude oil prices with coronavirus vaccination drives beginning across the world.
Oil marketing companies - Indian Oil Corporation, Bharat Petroleum, as well as Hindustan Petroleum align the prices of domestic fuel with global benchmarks, by taking into account any alterations in the foreign exchange rates. Any revisions in fuel prices are implemented with effect from 6 am every day. The fuel prices vary from state to state in the country due to the value-added tax or VAT. In an early trade session today, the rupee edged four paise lower to 73.03 against the US dollar, and brent crude futures, the global oil benchmark, dropped 0.93 per cent to $ 55.65 per barrel.
Meanwhile, on Thursday, January 21, brent crude futures, the global oil benchmark, dropped 0.87 per cent to $ 55.59 per barrel. The rupee settled higher to 72.99 at a near five-month high mark, recording gains for the third straight session.