Petrol Price Reaches All Time High In Delhi Marks Rs85 in Delhi And Rs92 In Mumbai
The State owned Fuel corporations: Indian Oil Corporation(IOCL), Hindustan Petroleum Corporation Limited(HPCL), Bharat Petroleum Corporation Limited(BPCL) revised the petrol prices, which were reported on Tuesday.
On 19, January, Petrol prices in national capital reaches all time high marks Rs85, on Tuesday also there was a hike of 25 paisa in the prices of petrol in Delhi. There was also increase in prices of diesel breaches all time high.
This took the petrol price in Delhi to ₹85.20 per litre and to ₹91.80 in Mumbai. Diesel rate climbed to Rs75.38 a litre in the national capital - just breaching away from its record high and to an all-time high of ₹82.13 in Mumbai.
The State owned Fuel corporations: Indian Oil Corporation(IOCL), Hindustan Petroleum Corporation Limited(HPCL), Bharat Petroleum Corporation Limited(BPCL) revised the petrol prices, which were reported on Tuesday.
The rise in the prices of petrol and diesel which surely show its impact on majorly every industry ranging from supply chain logistic, travel and tourism, food and beverages and many others. When the petrol prices are revised it puts an additional pressure to the consumer.
In India, petrol prices are updated on the basis of international price in the market. So as foreign crude oil prices are gaining, India's petrol prices are going higher and so on. On the other hand, if crude oil prices are dropping on foreign markets, there is a decline in India's regular or current oil prices.
The increase in fuel taxes levied by the central and state governmentshas also impacted the prices of petrol and diesel in the country.
The last time when the petrol prices recorded all time high was Rs84 on Oct 4 2018, The Government had cut excise duty on petrol by Rs1.50 a litre to release some pressure from the consumer. The State owned fuel retailers also shred their fuel prices by Rs1.
