Fuel prices on fire as crude price tops $57 a barrel
NEW DELHI: Petrol price made a new record at Rs 84.45 a litre in Delhi and crossed Rs 90 in Mumbai on Wednesday in tandem with crude topping $57/barrel for the first time since February 2020 as economic optimism outweighed concerns over fresh virus scare in Europe and China.
Diesel price made a fresh record at Rs 81.34 in Mumbai and narrowed the gap with previous peak in Delhi as state-run fuel retailers, who dominate the market, resumed daily price revision after a 5-day gap to pass on the impact of crude’s week-long rally.
After the latest hike, diesel costs Rs 74.63 a litre in Delhi, 82 paise short of the record Rs 75.45 on October 4, 2018. Petrol hit its highest in Mumbai at Rs 91.34 on October 4, 2018.
