Fuel price hike: Petrol, diesel prices reach all-time high in Delhi

New Delhi, Jan 22: Petrol price in the national capital has reached its record high at Rs 85.45 per litre on Friday morning after petrol and diesel prices were hiked almost 25 paise per litre by oil companies. The cost of petrol per litre in Mumbai is also at its record high of Rs 92.04.

On Thursday, the prices were Rs 85.20 per litre for petrol in Delhi. Diesel, on the other hand, is retailing at Rs 75.63 per litre, 25 paisa more than previous price.

On 18 January, the fuel prices breached its record high at Rs 84.95 per litre after petrol and diesel prices were hiked by 25 paise/ litre by oil companies. The cost of petrol per litre in Mumbai was priced at Rs 91.56. Diesel prices in the two cities are now at Rs 75.13 per litre in Delhi and Rs 81.87 per litre in Mumbai.

It can be seen that this is the third price hike in last 20 days as oil marketing companies announced hike of Rs 0.23 for petrol and Rs 0.26 diesel per litre on January 7. The prices of petrol and diesel have increased by Rs 1.74 and Rs 1.76 per litre so far respectively in Delhi.

Fuel prices have been on an upswing in other metro cities as well. The price of one litre of petrol in Mumbai, Kolkata, and Hyderabad has surged to Rs 92.04/litre, Rs 86.87/litre, and Rs 88.89/litre, respectively.

Similarly, diesel has touched Rs 82.40/litre, Rs 79.23/litre and Rs 82.53/litre, in Mumbai, Kolkata and Hyderabad, respectively, as of January 22.

The price hike came as a result of resumption of daily price revisions by state-owned fuel retailers like Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) starting January 6 after nearly a month-long hiatus.