As of 18th January 2021, petrol and diesel prices have reached new heights. The prices of petrol and diesel have never been that high in Delhi and pan India. Talking about numbers, here in the national capital, petrol is priced at ₹84.95 per litre. Additionally, the diesel sits a little low at ₹75.13 per litre.
If you may not know, the prices of both petrol and diesel subject to change daily. Hence, it is difficult to predict the price whether it will see an increase or a decrease. As per the information from Indian Oil, the prices of petrol are up by 25 paise and so are the diesel prices. Petrol shifted from ₹84.70 per litre to ₹84.95 per litre and the diesel was at ₹74.88 per litre.
Also, the petrol price in Mumbai is ₹91.56 and the diesel is the highest in the country at ₹81.87.
Petrol and Diesel Prices
Reason for Price Hike
To start with, the prices of all the fossil fuel are varied by the big giant companies like the Indian Oil, Hindustan Petroleum, Bharat Petroleum.
- These companies take foreign change rates into account to determine the prices of the fuel. Naturally, these rates differ and are subjected to change every day.
- Besides, these rates change at 6 am daily.
- Also, these prices differ with a change in the state because of the VAT (Value Added Tax).
- Hence it is recommended if going on a long tour, consider the fuel prices in those different states.
One of the prime reason for the hike was the downfall of Indian rupee (by 3 paise) against the US dollar on Friday (15th Jan 2021). This, in turn, means that the cost of per barrel went south by 1.51%, hence the hike.