Petrol, diesel prices rise sharply again on Friday

Petrol, diesel prices rise sharply again on Friday

New Delhi, February 12, 2021

Petrol and diesel prices extended gains on Friday with pump prices rising by 29 paise and 35 paise per litre, respectively, in the national capital.

With this increase, it is for the fourth consecutive day this week that petrol price has gone up in Delhi and is now at Rs 88.14 a litre while diesel is at Rs 78.38 a litre .

Across the country as well, petrol prices increased within the 25-30 paise per litre range, while diesel rose by 30-35 paisa per litre -- depending on the level of local taxes on the two petroleum products.

The increase on Friday has followed the firming up of global crude oil prices that have remained close to $61 a barrel. The pump prices of petrol and diesel have now reached new highs across the country.

The current price rise is largely on account of the steep increase in central taxes of petrol and diesel and firm crude prices. The Budget has also imposed a new agriculture infrastructure and development cess. Oil minister Dharmendra Pradhan has ruled out any cut in duty on petroleum products.

Crude price have remained firm for last few weeks in the wake of unilateral production cuts announced by Saudi Arabia and a pick up in consumption in all major economies globally.

The petrol and diesel prices have increased 16 times in 2021 with the two auto fuels increasing by Rs 4.43 and Rs 4.51 per litre, respectively, so far this year.

IANS

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