Petrol price at Rs 86

 ​New Delhi: Petrol and diesel prices across the country were raised for the 15th straight day on Monday with oil marketing companies (OMCs) passing on the increase in international fuel prices to the consumers. The latest rally has continued since the 19-day price freeze initiated by the OMCs before the Karnataka polls.

Price of non-branded petrol in Delhi soared to Rs 78.27 per litre on Monday, the highest price recorded in Delhi’s history, and a 15 paise per litre hike over Sunday’s price. The previous high for petrol price in Delhi was Rs 76 per litre in September 2013 when crude oil prices were hovering around $108-115 per barrel. Similarly, diesel prices in the national capital soared to Rs 69.17 per litre, the highest recorded ever.    

The price of Petrol has peaked at record levels in other metro cities too, including Rs 86.05 per litre in Mumbai, Rs 81.26 in Chennai and Rs 80.91 per litre in Kolkata. Price of every litre of non-branded diesel has also peaked at Rs 73.64 in Mumbai, Rs 73.03 in Chennai and Rs 71.72 in Kolkata. 

The Indian Oil Corp (IOC), the country’s largest fuel retailer, has since May 14 increased petrol prices by Rs 3.64 per litre and has hiked diesel prices by Rs 3.24 per litre in the national capital. Prices have peaked across the country, fueling speculations the ruling BJP government may be mulling an excise duty cut for auto fuels. 

Oil and gas sector analysts have over the past week said fuel prices will go up by an additional Rs 4 per litre as the OMCs try to recover their marketing margins, which came under pressure when the OMCs collectively initiated a price freeze for 19 straight days before the Karnataka elections.