Petrol prices rise by 29-30 paise, diesel up by 25-27 paise across metros-August 2024-www.financetom.com

Petrol prices rise by 29-30 paise, diesel up by 25-27 paise across metros

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Petrol prices rise by 29-30 paise, diesel up by 25-27 paise across metros

Feb 9, 2021 11:58 PM

Fuel prices touched a new high as state-owned fuel retailers hiked rates for the second consecutive day. Petrol prices were hiked by 29-30 paise per litre each and diesel rates were raised by 25-27 paise, according to a price notification from oil marketing companies.

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In Delhi, petrol now costs Rs 87.60 per litre and diesel is priced at Rs 77.73. In Mumbai, petrol comes for Rs 94.12 a litre and diesel for Rs 84.63.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am in the morning. These rates move in line with benchmark international price and foreign exchange rates.

The fuel prices vary from state to state in the country due to the value-added tax or VAT.

On the global front, oil hit 13-month highs on Tuesday, supported by supply cuts, a weaker dollar and optimism over a recovery in fuel demand, but retraced some of its recent gains in early US trading, according to news agency Reuters report.

First Published:Feb 10, 2021 8:58 AM IST

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