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Diesel price hits record high, petrol at 19-month high

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After 13 days of non-stop rate hikes, diesel price has now touched a new record high of 77.06 in New Delhi. While petrol is at 19-month high, diesel is at lifetime high. Diesel has broken the earlier record high of 75.69 reached on 16 October 2018 when Brent crude oil had breached the $80 a barrel mark.

The international benchmark, however, has since then halved to around $40 a barrel now.

The current spike in auto fuels rate in India can be attributed to the hike in excise duties by 10 per litre on petrol and 13 per litre on diesel last month. Crude oil rates, on which fuel rates are directly dependent, had fallen to $20 a barrel last month. State-run oil firms had not revised petrol, diesel rates for a period of 82 days from March 17 to June 6.

Fuel prices were hiked for the 13th consecutive day today taking the total price hike during the period to 7.11 a litre for petrol and 7.67 a litre for diesel.

New Delhi: Petrol 78.37 Diesel 77.06

Gurgaon: Petrol 76.24. Diesel 69.08

Mumbai: Petrol 84.66. Diesel 74.93

Chennai: Petrol 81.32. Diesel 74.23

Hyderabad: Petrol 80.77. Diesel 74.70

Bengaluru: Petrol 80.33. Diesel 72.68

From a peak of $70 a barrel earlier in the year, Brent crude oil rates have fallen drastically. Brent crude futures were trading around the $41 a barrel mark this morning. The global benchmark crude is up around 8% this week

 

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