Petrol, Diesel prices touch all-time highs on Tuesday

Mangalore Today News Network / NDTV

New Delhi, May 11, 2021:      Petrol and diesel prices touched all-time highs across the metros on Tuesday after the country’s largest fuel retailer - Indian Oil Corporation - hiked the prices for the second straight day. In Delhi, petrol prices were increased by 27 paise from ₹ 91.53 per litre to ₹ 91.80 per litre and diesel became dearer by 30 paise from ₹ Rs 82.06 per litre to ₹ 82.36 per litre, according to Indian Oil. Currently, petrol and diesel prices are highest in the financial capital of the country. Petrol in Mumbai was retailed at ₹ 98.12 per litre, while diesel was sold at ₹ 89.48 per litre.

 

The state-run oil marketing companies including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum align the rates of domestic fuel with the global crude oil prices by taking into account changes in the foreign exchange rates. The new changes in fuel prices are implemented with effect from 6 am every day.

Meanwhile, oil prices fell on Tuesday as the prospect of the main U.S. East Coast gasoline pipeline remaining shut for the rest of this week led some U.S. Gulf Coast refiners to cut output, denting their appetite for crude.

U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, or 0.6 per cent, to $64.52 a barrel at 0247 GMT, after gaining 2 cents on Monday. Brent crude futures dropped 45 cents, or 0.7 per cent, to $67.87 a barrel, after climbing 4 cents on Monday.