Petrol prices rise to an all-time high, going past Rs 84 in Delhi
NEW DELHI: Petrol prices shot to an all-time high on Thursday, going past Rs 84 in Delhi, as state companies raised rates to align with the recent rise in the international market.
Crude oil prices have jumped to their highest levels since February following Saudi Arabi’s decision to take big voluntary supply cut and as US crude inventories dropped. Crude oil was trading above $ 54 a barrel early Thursday, far higher from under $20 a barrel in late April.
State oil companies are expected to daily revise domestic rates of petrol and diesel in line with changes in international prices but have often avoided so in the past year. After nearly a month of rate pause, state companies began increasing prices on Wednesday. On Thursday, prices of petrol and diesel were raised by 23 paise and 26 paise per litre, respectively.
Petrol sold for Rs 84.2 per litre in Delhi and Rs 90.83 in Mumbai on Thursday. Diesel sold for Rs 74.38 in Delhi and Rs 81.0 ..
The Economic Times 07-01-2021