Key Points:
- Fuel Prices touched skies on Monday in Delhi after state-owned oil marketing companies hiked rates by 25 paise.
- Petrol Price in Delhi have reached to Rs 84.95 per litre.
- Mumbai – Rs. 91.56, Chennai – Rs. 87.63 and Kolkata – Rs. 86.39 per litre (Petrol).
- Since May 2020, petrol price has risen by Rs 14.28 per litre and diesel by Rs 11.83 a litre, price notifications of oil companies showed.
Fuel Prices touched skies on Monday in Delhi after state-owned oil marketing companies hiked rates by 25 paise. Petrol prices were increased by 25 paise to Rs 84.95 per litre from Rs 84.70 per litre while diesel prices too were increased by 25 paise to Rs 75.13 per litre from from Rs 74.88 per litre, as per data available in Indian Oil Corporation. In Mumbai, diesel prices were hiked to Rs 91.56 per litre, thus witnessing record high.
Below are the rates of Petrol and Diesel in the metro cities of the country. (January 18, 2021)
| City | Petrol | Diesel |
| Delhi | 84.95 | 75.13 |
| Mumbai | 91.56 | 81.87 |
| Chennai | 87.63 | 80.43 |
| Kolkata | 86.39 | 78.72 |
Delhi had seen its highest ever rate of Rs 84 a litre for petrol on October 4, 2018. Diesel too had scaled to an all-time high of Rs 75.45 a litre on October 4, 2018. But, 2021 has got something new for Delhi when the state-owned oil marketing companies hiked rates by 25 paise on Monday and the Petrol price has reached Rs. 84.95/litre.
Since May 2020, petrol price has risen by Rs 14.28 per litre and diesel by Rs 11.83 a litre, price notifications of oil companies showed.
Though petrol and diesel rates must be revised on a daily basis in line with benchmark international price and foreign exchange rates, the government-controlled fuel retailers have been controlling rates since the pandemic broke out.
This after they adjusted a Rs 13 per litre hike in excise duty on petrol and Rs 15 a litre on diesel against a decrease in the retail selling price that was warranted by crude oil prices slumping to an average of USD 19 per barrel in April.
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 revisions after nearly a month-long break.
Any changes in fuel prices are applied with effect from 6 am every day. The fuel prices vary from state to state in the country due to the value-added tax or VAT. Excise duty totals Rs 32.98 per litre in petrol and Rs 31.83 in diesel. VAT in Delhi totals to Rs 19.32 a litre on petrol and Rs 10.85 on diesel.
