Accordingly, oil marketing companies raised the pump price of diesel by year high level of 36 paise per litre and petrol by another 30 paise per litre in Delhi.
Across the country as well, the petrol prices increase within the 25-30 paisa per litre range, while diesel between 30-35 paisa per litre -- depending on the level of local taxes on the two petroleum products.
This took petrol price to an all-time high of Rs 87.85 a litre in Delhi and to Rs 94.36 in Mumbai. Diesel rates rose to Rs 78.03 per litre in the national capital and to an all-time high of Rs 84.94 in Mumbai.
Oil Minister Dharmendra Pradhan in Rajya Sabha said the government is not considering a reduction in excise duty to cool rates from their record highs.
Diesel prices in the national capital saw an upward revision from ₹ 76.83 per litre to ₹ 77.13 per litre, according to Indian Oil Corporation, the country's largest fuel retailer.
Petrol and diesel prices in Delhi touched new all-time highs on Thursday with oil marketing companies (OMCs) raising pump prices by 35 paise a litre.
While Sitharaman kept the Income Tax slabs unchanged, she imposed an additional agriculture cess on petrol and diesel.
While Sitharaman kept the Income Tax slabs unchanged, she imposed an additional agriculture cess on petrol and diesel.
Across the country, the fuel prices increased sharply but its rise at retail level varied state-to-state depending on the quantum of taxes in each state.
Petrol and diesel prices on Saturday surged again in India and Bhopal witnessed hike in the rates of fuels with ₹93.59 per litre and Rs 83.85 per litre respectively.
Petrol in Delhi has touched all-time high and costs Rs 85.45 per litre while diesel is retailing at Rs 75.63 per litre, 25 paisa more than the previous price, as per data from Indian Oil Corporation website.
Across the country as well the price of the two petroleum products increased at varied levels depending on the prevalent taxation structure.
The oil marketing companies have hiked the fuel prices around Rs 2 and Rs 3.50 respectively, which have risen by a quarter since early November. Diesel is currently retailing at Rs 73.87 per litre in the capital, while petrol is retailing at Rs 83.71 per litre in Delhi.
Petrol price on Saturday was raised by 27 paise per litre and diesel by 25 paise, according to a price notification of oil marketing companies.
Petrol price in Delhi rose to Rs 82.86 per litre from Rs 82.66. Diesel rate went up from Rs 72.84 to Rs 73.07 per litre.
Oil marketing companies on Thursday hiked the prices of petrol and diesel for the second consecutive day after a two-day pause. Petrol and diesel prices were hiked by around 20 paise across the metros.
Petrol and diesel prices have been rising since Friday after a nearly two-month-long hiatus in fuel price revision. In five days, petrol price has gone up by 53 paise and diesel rates have risen by 95 paise per litre.
The increase in petrol and diesel prices was expected as the global oil market has shown signs of firming up after positive news on the successful introduction of a coronavirus vaccine soon. Moreover, the demand for oil and falling inventory levels in major consuming markets has also firmed up the crude price.
The price of petrol has increased by 17 paisa per litre in the national Capital to Rs 81.23 from Rs 81.06 a litre on the previous day. Similarly, retail price of diesel has been increased by 22 paisa per litre to Rs 70.68 a litre.
Global crude prices are holding close to $ 42 a barrel now. It has been hovering between $ 40-42 a barrel for over a month now. But with lower oil demand and rising inventory, there is fear a song oil-producing companies that crude prices may start falling again.
Top News
Latest News
