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Fuel prices at record high, petrol touches Rs 97 mark in Mumbai, check rates in Delhi-NCR

Petrol and diesel prices went up for the 12th consecutive day on Saturday.

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Petrol Price February 20 Update: Petrol and diesel prices went up for the 12th consecutive day on Saturday. Petrol in Delhi has now soared to Rs 90.58 per litre, while Diesel has also crossed Rs 80 mark. The most expensive rate of diesel in Delhi was the last week of July in 2020 when the price was Rs 81.94 per litre and petrol rate was Rs 80.43 per litre.

Retail fuel prices have risen across the country, with oil on the boil in global markets and both crude and product prices seeing a big spike. Accordingly, oil marketing companies raised the pump price of diesel by a high level of 37 paise per litre and petrol by another 39 paise per litre in Delhi.

Across the country as well the petrol prices increase ranged from 26-32 paise per litre and diesel price 30-35 paise per litre depending on the level of local taxes on the two petroleum products. The highest price of petrol in metro cities is in Mumbai, where the rate is Rs 97 per litre. On the other hand, diesel in Mumbai is Rs 88.06 per litre.

Petrol price has already surged past the Rs 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.

In all other metros, petrol is over Rs 90 a litre mark while diesel is well over Rs 80 a litre.

Why the prices of petrol diesel are increasing?

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 USD 65 a barrel on Thursday as a worsening US energy crisis took out almost 40% of the nation's crude production. After the coronavirus pandemic, the economic conditions of the world are also showing improvement, due to which demand for fuel has increased.

Petrol prices in 4 metro cities

Delhi: Rs 90.58
Mumbai: Rs 97
Kolkata: Rs 91.78
Chennai: Rs 92.59

After petrol, diesel prices have also reached the new sky of new inflation. Diesel in Mumbai is Rs 88.06 per litre, which is the most expensive rate so far. Diesel is also priced at Rs 80.97 per litre in Delhi, Rs 84.56 per litre in Kolkata and in Chennai at Rs 85.98 per litre.

Diesel price in 4 metro cities

Delhi: Rs 80.97
Mumbai: Rs 88.06
Kolkata: Rs 84.56
Chennai: Rs 85.98

The last few increases in pump prices in petrol and diesel has taken its price to record levels across the country in all major metro cities and other towns. The last time the retail price of auto fuels were closer to current levels was on October 4, 2018, when crude prices had shot up to $80 a barrel.

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