OPEN APP
Home / Industry / Energy /  Auto fuel prices at a record high in Delhi

Auto fuel prices at a record high in Delhi

The earlier recorded highest price for petrol and diesel in the national capital was  ₹101.84 per litre and  ₹89.87 respectively in July. (REUTERS)Premium
The earlier recorded highest price for petrol and diesel in the national capital was 101.84 per litre and 89.87 respectively in July. (REUTERS)

  • Even as petrol and diesel prices increased by 25 paise per litre and 30 paise per litre respectively at Indian Oil Corporation Ltd’ outlets in Delhi, diesel and petrol prices have already breached the 100 mark in several parts of the country.

Listen to this article

New Delhi: 

Auto fuel prices touched a new high on Friday with petrol and diesel selling at a peak of 101.89 and 90.17 per litre, respectively, in Delhi. Petrol and diesel prices were raised by 25 paise and 30 paise a litre, respectively, at Indian Oil Corp. Ltd outlets in Delhi. Fuel prices have breached the 100 mark in several parts of India.

In July, petrol and diesel had hit a record high of 101.84 and 89.87 per litre, respectively, in the national capital.

On Friday, Brent was trading at $78.61 a barrel and West Texas Intermediate at $75.21 a barrel at press time. The cost of the Indian basket of crude, comprising Oman, Dubai and Brent crude, was at $76.71 per barrel on 30 September.

While petrol demand has crossed pre-covid levels across India, domestic diesel demand is expected to breach pre-covid-19 levels by Diwali.

Global crude oil prices have rallied since hurricane Ida hit production at US Gulf Coast and a fall in US crude inventories. The supply shortage also comes at a time when global oil demand has been steadily rising following a pick-up in vaccinations and increasing preference for personal mobility options amid the pandemic.

The price hike comes in the run-up to the meeting of the Organisation of the Petroleum Exporting Countries (Opec)- plus grouping on Monday. The Opec accounts for a majority of India’s crude oil imports and around 40% of global production. The Opec+ bloc has cut production, resulting in a global rally in crude prices.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout