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