Petrol, diesel prices at another record high

Fuel rates hiked for seventh day in a row

May 20, 2018 01:14 pm | Updated 10:23 pm IST - New Delhi

 In India, petrol is the costliest in Mumbai where high local taxes has led a price of Rs.84.07 per litre.

In India, petrol is the costliest in Mumbai where high local taxes has led a price of Rs.84.07 per litre.

Petrol price on Sunday touched a record high of ₹76.24 per litre, while that of diesel stood at ₹67.57 in the national capital as oil firms raised prices for the seventh day in a row.

The price of petrol went up by 33 paise a litre and diesel by 26 paise in Delhi, according to the notification issued by the state-owned oil firms.

Rates vary across States, depending on local sales tax or VAT. Prices in Delhi are the cheapest among all metros and most State capitals. Petrol stood at ₹78.91 a litre in Kolkata, ₹84.07 in Mumbai and ₹79.13 in Chennai. Diesel prices were ₹70.12 in Kolkata, ₹71.94 in Mumbai and ₹71.32 in Chennai.

Fuel prices have been revised upward every day since May 14. While daily revisions have been in place for almost a year now, oil companies halted the practice for almost three weeks since April 24, when prices of the fuels were raised by 13 paise each. In all, petrol price has been raised by ₹1.61 a litre and diesel by ₹1.64 in the past week.

During the period that the prices were held stable, the Karnataka election was held on May 12.

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