Accordingly, the pump price of petrol increased between 22-25 paisa per
With this, petrol is now priced at ₹85.70/litre in Delhi as against ₹85.45 a litre previously. Similarly, in Mumbai petrol prices increased to ₹92.28 a litre, a 24 paisa increase from Friday’s price of ₹92.04 a litre. In Chennai and Kolkata, petrol is now priced at ₹88.29 and ₹87.11 a litre respectively, an increase of 22 and 24 paisa per litre from the previous day’s.
Diesel on the other hand faced sharper increase, rising by 26 paisa a litre in Mumbai from Friday’s level of ₹82.40 a litre to Saturday’s retail price of ₹82.66 a litre. In Delhi, diesel rose 25 paisa per litre to ₹75.88 a litre; in Chennai by 24 paisa per litre to ₹81.14 a litre and in Kolkata by 25 paisa per litre to ₹79.48 a litre.
The increase in retail price of auto fuel came on a day when global crude prices showed some signs of softening declining by less than 1 per cent to close to $55 a barrel. Crude price have remained firm for last couple of weeks in the wake of unilateral production cuts announced by
The increase petrol and diesel prices is fourth such revision this week. The auto fuels had risen sharply by 25 paisa per litre each on Monday and Tuesday before OMCs decided to give relief to consumers from frequent price rise for last two days.
With Saturday’s revision, the pump price of petrol and diesel has now increased by Rs 1.99 and Rs 2.01 per litre, respectively in January so far with OMCs deciding to break an earlier longer period of pause increasing the retail prices first time this year on January 6. The price had been raised on six different days since then.
The last few increases in pump prices in petrol and diesel has taken its price to record levels across the country in all major metro cities and other towns. The last time the retail price of auto fuels were closer to current levels was on October 4, 2018 when crude prices had shot up to $80 a barrel.
The current price rise is largely on account of steep increase in central taxes of petrol and diesel and firm crude prices.
Petrol price was very close to breaching the all-time high level of ₹84 a litre (reached on October 4, 2018) when it touched ₹83.71 a litre on December 7, 2020. But the march had been halted ever since then with no price revision by the OMCs in the month. The price rise started again only on January 6.
Oil companies executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making loss on sale of auto fuels.
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