Fuel prices have reached all-time high on Thursday after oil marketing companies hiked the rates. Petrol price was raised by 23 paise per litre and diesel by 26 paise a litre, according to a price notification from oil marketing companies.
In country's capital Delhi, Petrol is now retailing at Rs 84.20 per litre and Diesel at Rs 74.38 per litre. Wednesday's hike was the first price revision in nearly a month.
Earlier on Wednesday, petrol price and diesel prices were hiked by 26 paise and 25 paise, respectively.
Highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018. Diesel too had scaled to an all-time high of Rs 75.45 a litre on October 4, 2018. On that day, the government cut excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.
In Mumbai, petrol is retailing at Rs 90.83 per litre and diesel at Rs 81.07. In Chennai, petrol is retailing at Rs 86.96 a litre and diesel at Rs 79.72. In Kolkata, petrol was being sold today at Rs 85.68 a litre while diesel at Rs 77.97.
In Noida, petrol is retailing at Rs 84.06 a litre and diesel at Rs 74.82 per litre. In Ghaziabad, petrol was being sold today at Rs 83.91 a litre while diesel at Rs 74.64. In Haryana's Gurugram, the price of petrol is being sold at Rs 82.39 pet litre and diesel at Rs 74.97.
Meanwhile, a senior government official told PTI that no tax cut is under consideration as of now.
Though petrol and diesel rates are to be revised on a daily basis in line with benchmark international price and foreign exchange, government-controlled fuel retailers have been moderating rates since the pandemic broke out.
Since May 2020, petrol price has risen over Rs 14 per litre and diesel over Rs 11 a litre.