HomeEconomy NewsPetrol price crosses Rs 92 mark for first time in Mumbai, touches new high of Rs 85.45 in Delhi

Petrol price crosses Rs 92 mark for first time in Mumbai, touches new high of Rs 85.45 in Delhi

Petrol price scaled to an all-time high in Mumbai and Delhi after state-owned fuel retailers hiked the rates on Friday.

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By CNBCTV18.com January 22, 2021, 9:09:07 AM IST (Updated)

Petrol price crosses Rs 92 mark for first time in Mumbai, touches new high of Rs 85.45 in Delhi
Petrol price scaled to an all-time high in Mumbai and Delhi after state-owned fuel retailers hiked the rates on Friday. In Mumbai, the price of petrol now stands at Rs 92.04 per litre. One litre of petrol in Delhi now costs Rs 85.45, as against Thursday’s rate of Rs 85.20, according to Indian Oil Corporation, the country's largest fuel retailer.


Diesel price was also hiked on Friday. In the national capital, the price of diesel now stands at Rs 75.63 per litre. The diesel price in Mumbai is Rs 82.40 per litre.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT. 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.

State-owned fuel retailers — Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — had on January 6 resumed daily price revision after nearly a month-long hiatus.

On the global front, oil prices fell in early trade on Friday, retreating further from 11-month highs hit last week, on worries that new pandemic restrictions in China will curb fuel demand in the world's biggest oil importer.

-With inputs from Reuters
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