Petrol, diesel prices continue their record breaking spree with another hike today

Indian fuel consumers are caught between a robust oil price recovery in the international market and the government’s unwillingness to cut taxes it raised when prices were low.

Domestic rates of petrol and diesel set yet another record on Thursday with state oil companies hiking prices by 25 paise and 30 paise a litre respectively. Petrol sold for Rs 87.85/litre in Delhi and Rs 94.36 in Mumbai on Thursday. Diesel retailed for Rs 78.03 in Delhi and Rs 84.94 in Mumbai.