Diesel rates bounced back to record ₹89.87 a litre on Thursday

Diesel prices bounced back to the record price of ₹89.87 per litre in Delhi on Thursday after state-run fuel retailers raised its rate by 30 paise a litre, which is the fifth hike in seven days, resulting in the fuel rate surging by ₹1.25 a litre.

The recent price hikes also saw petrol becoming costlier by 45 paise a litre after its rate was raised by 25 paise on Thursday, which is the second hike in three days. Petrol is now sold at ₹101.64 a litre in Delhi.

While fuel rates of Indian Oil Corporation (IOC) in Delhi are benchmarks for the entire country, retail prices of the two fuels differ from place to place because of variations in state taxes and local levies.