Petrol And Diesel Prices Set To Break All-time High Levels


Petrol And Diesel Prices Set To Break All-time High Levels

Consumers may have to burn a larger hole in their pockets to keep their vehicles running as retail prices of petrol and diesel are set to hit all-time high levels all over again soon. Rising oil prices and the reluctance on the part of the government to cut taxes are two factors responsible for the certain spike in auto fuel prices.

Retail price of petrol in Delhi is Rs 76.61 a litre now. Going by the price rise of up to 20 paisa per day over the last week, petrol would breach record high level of Rs 78.43, touched on May 29, in about 10 days.

Diesel is within the sniffing distance of all-time high of Rs 69.31 a litre, again recorded on May 29. Diesel is retailing at Rs 68.61 a litre in Delhi.

Uncertainty in global oil markets has increased post US sanctions on Iran and call for its strict compliance by president Donald Trump.
The price of benchmark Brent crude was hovering over $75 a barrel, while the Indian basket was just a tad lower at $73 a barrel last month. Read More

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