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Petrol Price Highest In 4 Years, Diesel At Record High

Petrol and diesel prices in Delhi were at Rs. 73.98 a litre and Rs. 64.85 a litre respectively, with effect from 6 am on Thursday.

Petrol and diesel prices were hiked further today (April 5). Indian Oil, the country’s largest fuel retailer, increased petrol and diesel prices by 3 paise per litre across Delhi, Mumbai, Kolkata and Chennai, according to its website – iocl.com.From 6 am, April 5, petrol and diesel prices in Delhi were at Rs. 73.98 per litre and Rs. 64.85 per litre respectively, rising further from a four-year high and an all-time high hit earlier this week on rising international oil rates.

Petrol prices across Kolkata, Mumbai and Chennai were at Rs. 76.69 per litre, Rs. 81.83 per litre and Rs. 76.75 per litre, while diesel prices were at Rs. 67.54 per litre, Rs. 69.06 per litre and Rs. 68.41 per litre respectively, according to Indian Oil.

Here are five things to know about petrol and diesel prices today:

1. Including Thursday, petrol and diesel prices have been raised on 15 occasions in 18 days. Petrol and diesel prices have been on an upward trend since March 18.

2. From that day, petrol and diesel prices have been increased by Rs. 1.75-1.88 per litre and Rs. 2.14-2.29 per litre across the four metros respectively, data from the Indian Oil website showed.

3. At current levels, petrol prices are up Rs. 4.01 per litre in Delhi, Rs. 3.97 per litre in Kolkata, Rs. 3.96 per litre in Mumbai and Rs. 4.22 per litre in Chennai so far this year. Diesel rates are up Rs. 5.21 per litre, Rs. 5.24 per litre, Rs. 5.79 per litre and Rs. 5.58 per litre respectively.

4. International crude oil prices settled slightly lower on Wednesday, as a surprise draw in US crude stockpiles triggered a rebound from session lows hit after China proposed a broad range of tariffs on US exports that fed fears of a trade war.

Both Brent and US crude slid to two-week lows after China hit back at the Trump administration’s plan to levy tariffs on $50 billion of its goods, proposing duties on a broad range of US imports.

Brent hit a session low of $66.69 and US crude slumped as low as $62.06.

5. Currently, state-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise petrol and diesel prices at 6 am every day.

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