Petrol and diesel prices continue to soar

New Delhi, Sep 26: Fuel prices in the country continued to rise on Tuesday with a litre of petrol now costing Rs 82.86 per litre in Delhi, while it is priced at Rs 90.22 per litre in Mumbai. Diesel is Rs 74.12 per litre in Delhi and Rs 78.69 in Mumbai.

Petrol prices in Bangalore have been turning more volatile, as prices of crude oil have been showing a firm trend. Today petrol price in Bangalore stood at Rs 83.52 per litre.

At the international level, the oil industry is witnessing volatility. The crude prices have hit a record high prices since November 2014 amid the looming U.S. sanctions against Iran and hesitancy by the OPEC member countries to increase oil output to support the market requirements.

Petrol prices were revised daily in India with effect from June 15, 2017. This was a marked departure from the earlier practice of revising petrol prices every fortnight.