Petrol and diesel prices touched all-time highs across the four metros on Sunday, February 14, after oil marketing companies increased the rates by around 30 paise for the sixth straight day. In Delhi, the price of petrol was hiked by 29 paise from ₹ 88.44 to ₹ 88.73 per litre, and diesel was increased by 32 paise from ₹ 78.74 per litre to ₹ 79.06 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel rates stood at ₹ 95.21 per litre and ₹ 86.04 per litre respectively. Currently, the fuel rates are the highest in Mumbai out of all the four metro
Petrol and diesel prices have recorded an upswing since January 6, 2021, after staying unchanged for almost a month. The fuel prices have increased amid a rally in global crude oil prices, with COVID-19 vaccination drives continuing across the world.
Oil marketing companies – Bharat Petroleum, Indian Oil Corporation, as well as Hindustan Petroleum align the rates of domestic fuel with the global benchmarks, by taking into account any alterations in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.