Economy

Petrol crosses ₹ 90 mark in Delhi, diesel at ₹ 80.60

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New Delhi Petrol price on Friday crossed the ₹ 90-per-litre mark in the national capital, and diesel soared to ₹ 80.60 after rates were increased for the 11th consecutive day in a row.

Petrol price on Friday was hiked by 31 paise per litre and diesel by 33 paise, according to a price notification of state-owned fuel retailers.

This pushed the petrol price to ₹ 90.19 a litre in Delhi and to ₹ 96.62 in Mumbai.

Diesel now comes for ₹ 80.60 a litre in the national capital and for ₹ 87.62 in Mumbai.

The increase follows a spurt in prices of oil in the international market, on which India is 85 % dependent to meet its needs. Brent oil crossed $ 65 a barrel on Thursday as a worsening U.S. energy crisis took out almost 40 % of the nation's crude production.

In 11 days, retail petrol prices have risen by ₹ 3.24 a litre, a record since the pricing was deregulated in 2010, and diesel rates have gone up by ₹ 3.47. Petrol price has already surged past the ₹ 100-mark in some places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel. Retail pump prices defer from state to state depending on the local taxes (VAT) and freight.

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Printable version | Mar 5, 2021 10:13:24 PM | https://www.thehindu.com/business/Economy/petrol-crosses-90-mark-in-delhi-diesel-at-8060/article33880598.ece

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