The petrol and diesel prices in India hit a record high following a hike in rates for the fourth time this week.
The petrol and diesel prices in India were increased by 25 paise per litre each, according to oil marketing companies(OMCs). With this, the petrol price in Delhi has reached to Rs 85.70 per litre while in Mumbai to Rs 92.28.
The diesel price in Delhi has climbed to Rs 75.88 per litre and while in Mumbai, it has reached Rs 82.66 per. Reportedly, this is the second consecutive day in a hike in fuel prices and the fourth in this week. Likewise, the prices have increased by Re 1 per litre this week.
The fuel prices vary from state to state as per the local sales tax or Value Added Tax. Both the fuels are now at record highs in India.
Petrol prices in metros:
- Delhi: Rs 85.70
- Mumbai: Rs 92.28
- Kolkata: Rs 87.11
- Chennai: Rs 88.29
Earlier this week, Union Minister Dharmendra Pradhan had blamed Saudi oil output cut for the sudden hike in fuel prices.
The state-owned fuel retailers including Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) had resumed the daily price revision after nearly a month-long hiatus on January 6.