Fuel Prices Hiked 6 Times So Far This Year, Petrol Rate In Delhi Crosses Rs 70/Litre
Petrol prices were hiked by 37-40 paise per litre and diesel rates by 49-53 paise per litre on Monday. That marked the fifth consecutive hike in domestic fuel prices, and the sixth overall so far this year. In Delhi, the price of petrol crossed the Rs 70 a litre mark for the first time in 2019. The upwards price revision comes on the back of a recovery in crude oil prices in anticipation of tightening supply ahead, say analysts. Currently, oil marketing companies in the country revise the domestic prices of petrol and diesel on a daily basis, in line with the movement in international crude oil and rupee-dollar forex rates.
| Petrol price in rupees per litre | ||||
|---|---|---|---|---|
|  | Delhi | Kolkata | Mumbai | Chennai |
| Jan-14 | 70.13 | 72.24 | 75.77 | 72.79 |
| Jan-13 | 69.75 | 71.87 | 75.39 | 72.39 |
| Diesel price in rupees per litre | ||||
|  | Delhi | Kolkata | Mumbai | Chennai |
| Jan-14 | 64.18 | 65.95 | 67.18 | 67.78 |
| Jan-13 | 63.69 | 65.46 | 66.66 | 67.25 |
| (Source: iocl.com) | ||||
With effect from 6 am on January 14, petrol prices were at Rs 70.13 per litre in Delhi, Rs 72.24 per litre in Kolkata, Rs 75.77 per litre in Mumbai and Rs 72.79 per litre in Chennai, according to Indian Oil Corporation - the country's largest fuel retailer. Diesel prices stood at Rs 64.18 per litre, Rs 65.95 per litre, Rs 67.18 per litre and Rs 67.78 per litre respectively.
Besides Monday's hike, petrol and diesel were hiked on January 7, and every day from January 10 to January 13. The hike on January 13Â was the steepest so far this year.
| Date | Hike in price in paise per litre (Delhi, Mumbai, Kolkata, Chennai) | |
|---|---|---|
| Â | Petrol | Diesel |
| Jan-07 | 21-22 | 8 |
| Jan-10 | 37-40 | 29-31 |
| Jan-11 | 19-20 | 28-30 |
| Jan-12 | 19-20 | 29-31 |
| Jan-13 | 48-52 | 59-63 |
| Jan-14 | 37-40 | 49-53 |
| (Source: iocl.com) | ||
Global crude oil rates have gained strength after the implementation of production cuts by top producers, recovering from levels below $50 a barrel registered last month.
Brent crude futures - the international benchmark for crude oil - dropped by $1.2 to settle nearly 2 per cent lower at $60.48 a barrel on Friday. The global crude benchmark had the previous day logged its first nine-day rally since September 2007.
(With agency inputs)
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
