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Fuel prices February 27: Petrol, diesel prices hiked after 3-day break, know rates here

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Fuel prices hiked
The Indian Express

Oil marketing companies raised the pump price of petrol and diesel by 24 paise and 15 paise per litre on Saturday.

Petrol Price February 27 Update: Country’s petrol and diesel prices continued their northward march on Saturday, after a three-day break, taking its retail rates to unprecedented levels and burning holes in the consumers’ pockets. With this, petrol is now priced at Rs 91.17 a litre, and diesel Rs 81.47 a litre in the capital.

Oil marketing companies raised the pump price of petrol and diesel by 24 paise and 15 paise per litre on Saturday.

Across the country as well the petrol and diesel prices increased between 20-30 paise per litre depending on the level of local duty at the state level.

The crude oil is also on the boil with benchmark Brent crude still above $66 a barrel now. It was less than $60 a barrel just a few days back.

Petrol and diesel prices have been rising continuously since February 9. In the 14 increases since then, the prices have gone up by Rs 4.22 per litre for petrol and Rs 4.34 a litre for diesel in Delhi.

Petrol prices in 4 metro cities

Delhi: Rs 91.17Mumbai: Rs 97.57Kolkata: Rs 91.35Chennai: Rs 93.11

The increase in the previous weeks has taken petrol to cross historic high levels of Rs 100 a litre in several cities across the country.

In Mumbai, petrol price is just Rs 2.4 per litre short at Rs 97.57 a litre (from the three-digit mark of Rs 100 per litre for the very first time ever). Diesel prices in the city are closing in on Rs 90 a litre (Rs 88.60 a litre).

Diesel price in 4 metro cities

Delhi: Rs 81.47Mumbai: Rs 88.60Kolkata: Rs 84.35Chennai: Rs 86.45

In all other metros, petrol is over Rs 90 a litre mark while diesel is well over Rs 80 a litre.

Premium petrol crossed the Rs 100 per litre mark in several cities of Rajasthan, Madhya Pradesh, and Maharashtra a few days back.

Since fuel prices are benchmarked to a 15-day rolling average of global refined products’ prices and dollar exchange rate, pump prices can be expected to remain northbound over the next few days even if crude price stabilizes.

The petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre, respectively so far this year.

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