Petrol, Diesel Prices Hiked For Third Straight Day, Touch New Highs

Petrol, Diesel Prices Today: Petrol and diesel prices scaled news highs across the metros on Thursday, February 11, after oil marketing companies increased the rates by up to 30 paise for the third straight day. The price of petrol was hiked by 25 paise from Rs 87.60 per litre to Rs 87.85 per litre, and diesel was increased by 30 paise from Rs 77.73 per litre to Rs 78.03 per litre in Delhi, according to Indian Oil Corporation, the country's largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel rates stood at Rs 94.36 per litre and Rs 84.94 per litre respectively, the highest among all four metros. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)

Here are the current prices of petrol and diesel (in rupees per litre):

Petrol and diesel prices have recorded an upswing since January 6, 2021 after staying unchanged for almost a month. The fuel rates have increased amid a rally in global crude oil prices, with COVID-19 vaccination drives beginning across the world. 

Oil marketing companies  - Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

Meanwhile, oil prices rose on Wednesday, extending its rally for a ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes vaccine rollouts will drive a recovery in demand.

Brent crude settled up 38 cents, or 0.6 per cent, at $61.47 a barrel, after touching a 13-month high of $61.61. U.S. crude closed 32 cents, or 0.6 per cent, higher at $58.68 a barrel, also after touching a 13-month high at $58.76.