Fuel Rates Continue to Burn Hole in Pocket: Petrol at Rs 90.58/Litre in Delhi, Rs 3 Short of Century in Mumbai

Notably, petrol and diesel prices are witnessing a relentless hike in the country, burning a hole in the common commuter’s pocket.

New Delhi: Continuing its northward rally, fuel prices rose for the twelfth consecutive day across the country with the global oil market remaining stable but firm. While petrol saw an increase of 39 paise, diesel prices were hiked by 37 paise in the national capital. Following this,  petrol and diesel are being sold at Rs 90.58 per litre and Rs 80.97 per litre, in Delhi. Notably, fuel prices are witnessing a relentless hike in the country, burning a hole in the common commuter’s pocket.

Earlier on Friday, petrol breached Rs 90 a litre-mark in Delhi after oil marketing companies raised the pump price of petrol by 31 paise and diesel by another 33 paise per litre in the city. The retail price of petrol has crossed Rs 100 a litre-mark in several states including Maharashtra, Madhya Pradesh and Rajasthan. These states also have one of the highest levels of local levies on petroleum products in the country.

Petrol and diesel prices in Delhi stand at Rs 90.58 per litre (increase by 39 paise) and Rs 80.97 per litre (increase by 37 paise), respectively

(file photo) pic.twitter.com/qR1UfbABC8

— ANI (@ANI) February 20, 2021

In Mumbai, the price of petrol is at an all-time high as it touched the Rs 97 per litre mark after a hike of 38 paise. The diesel was priced at Rs 87.06 per litre following an increase of 39 paise.

Check Rates in Major Cities Here: 

Oil companies executives said that petrol and diesel prices may increase further in the coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making losses on the sale of auto fuels.

Will Government Announce Tax Cut?

After the Opposition lambasted the Centre for not providing any relief to ‘Aam Aadmi’ (common man), petroleum ministry has pitched for an excise duty cut. If reports are to be believed, top government officials from PMO, revenue department, and oil ministry met last week to review excise duties. The finance ministry will take the final decision in days to come.