Business Petrol prices reach new record level: Check fuel prices...

Petrol prices reach new record level: Check fuel prices in metro cities on January 14, 2021 | Economy News

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New Delhi: Petrol prices in Delhi on Thursday reached a new record level of Rs 84.70 per litre. It is believed that if the prices keep increasing, in just couple of days, Delhi petrol prices will cross Rs 85 per litre. Petrol in Mumbai, which had crossed Rs 91 per litre on Wednesday, increased by 25 paise per litre today.

Petrol price was raised by 23 paise per litre and diesel by 26 paise a litre in the state capital, according to a price notification from oil marketing companies on January 7. After this increase, petrol in Delhi climbed to Rs 84.20 per litre from Rs 83.97 previously. Diesel rates rose to Rs 74.38 per litre from Rs 74.12. 

Here is looking at the price difference of diesel and petrol in four metro cities on January 14, 2021.

City Petrol Diesel
Delhi 84.70 74.88
Mumbai 91.32 81.60
Chennai 87.40 78.47
Kolkata 86.15 78.47

Highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018. Diesel too had scaled to an all-time high of Rs 75.45 a litre on October 4, 2018.

On that day, the government cut excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.

Since May 2020, petrol price has risen by Rs 14.28 per litre and diesel by Rs 11.83 a litre, price notifications of oil companies showed.

When petrol scaled its highest levels in Delhi on October 4, 2018, the fuel touched a new high of Rs 91.34 in Mumbai. On Wednesday it costs Rs 90.60 a litre in Mumbai. Diesel in Mumbai on Wednesday at Rs 80.78 a litre is higher than the October 4, 2018 rate of Rs 80.10.

Brent crude oil futures slipped by 9 cents, or 0.2%, to $55.57 a barrel by 0135 GMT while U.S. West Texas Intermediate (WTI) fell by 8 cents, or 0.2%, to $52.17 a barrel,  a Reuters report said.

With Agency  Inputs





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