Monday, 25 March, 2019

Petrol, diesel prices hiked after consecutive cuts. Check latest rates

Petrol diesel price At present petrol prices are at its lowest level in over a year while diesel prices have touched a nine-month low
Priscilla Morrison | 09 January, 2019, 03:08

Petrol, diesel prices have fallen close to 20 per cent from the highs made in early October a year ago, as crude prices are down almost 40 per cent in these three months.

After Sunday's price revision, petrol in Delhi was retailed at Rs 68.29 while diesel was sold at Rs 62.16 per litre, 10 paise cheaper compared to Rs 62.16 on Saturday.

Fuel rates began their downward climb in October after Union finance minister Arun Jaitley announced an excise duty cut of Rs. 1.5 per litre on petrol and diesel. As of today, it sits at just over $58 a barrel.

'Motorists filling up at Asda will pay no more than 113.7ppl on unleaded and 123.7ppl on diesel'.

However, both the fuels are yet to breach the Rs 60 per litre mark in recent months though petrol prices did come close to the psychological mark on January 6 when the price dropped to Rs 60.88 per litre.

Customers heading to the Newark petrol station, from tomorrow (January 8), will pay no more than 113.7ppl on unleaded and 123.7ppl on diesel.

More news: New York City launches $100 million universal health insurance program

Average fuel prices reached a four-year high in October, with petrol at £1.31 per litre and diesel at £1.37 per litre.

While in Mumbai - the country's financial capital - petrol and diesel were priced at Rs 74.16/litre and Rs 65.12/litre, respectively.

'In rural communities where public transport is poor and unreliable, people need their vehicles to get from A to B.

However, Brian Madderson, chairman of the Petrol Retailers Association, told the BBC the idea would be "impracticable".

'If people don't like high prices, they can go to a cheaper forecourt'.

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