Petrol And Diesel Prices Reach An All-Time High

By Saroni Chakravarti | January 15, 2019

Transport fuel rates were at an all-time high on Sunday driven by the slashing of global crude oil outputs by oil-producing countries. 

Transport fuel rates witnessed a steep rise for the fifth time this month and reached an all-time high on Sunday. This spike was driven by an increase in global crude oil prices as the decision to slash global crude oil output by oil-producing countries was implemented from January 1. In the national capital, petrol hit the Rs. 70-mark for the first time in 2019. Diesel in the national capital was sold at Rs. 64.18 per litre, costlier by 49 paise.

Want to save on fuel? Click here to check your eligibility for a Fuel Credit Card for some big savings!

Why the hike? 

The hike in transport fuel rates follows a continuous rise in global crude oil prices owing to production cuts by The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries from January 1. Petroleum products fall outside the GST regimen and are therefore subjected to dynamic pricing that makes the domestic fuel prices dependent upon international fuel prices on a 15-day average and the value of the rupee.

Additional Reading: Which Car Should You Buy-Petrol or Diesel?

What are the current prices?

The petrol and diesel prices in the four metros are as follows as of today:

City  Petrol (in Rs./litre) Diesel (in Rs./litre)
Mumbai 75.39 67.18
Delhi 69.75 64.18
Kolkata 71.87 65.95
Chennai 72.40 67.78

Additional Reading: Meet TheGet Ultra Cool BankBazaar Mobile App: The Mobile Management Genie We All Need

Finding it hard keeping up with changing fuel rates? Download the BankBazaar app and stay abreast of changing fuel rates even on the move!

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: News Trending UCN
Saroni Chakravarti

About Saroni Chakravarti

Saroni loves all things quaint and old world- be it art, music or cinema. She has a special knack for spotting the weirdest traits in people and can't for the life of her understand why she attracts the worst co-passengers. Despite her cynical exterior, she still hopes for a world that will be free from discrimination and cruelty. When she's not spending her day commuting, she can be found watching funny videos, reading, and sending out needy vibes to strays around her.

Leave a Reply

Your email address will not be published. Required fields are marked *