Petrol prices continued to soar in the national capital as it was hiked by around 25 paise on Tuesday, making it go past Rs 85 mark for a litre. The current price of petrol is the highest ever in Delhi.
After the hike, the petrol price increased from Rs 84.95 per litre to Rs 85.20 per litre. The diesel price was also increased by 25 paise in the city. Diesel price was increased from Rs 75.13 per litre to Rs 75.38 per litre on Tuesday.
Oil marketing companies like Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum adjust the prices of fuels with global benchmarks, by taking into account changes in the foreign exchange rates. The changes in the fuel prices are brought into effect at 6 am every day.
The oil prices were in check due to the global demand concerns. US crude fell 0.1 per cent to $52.29 a barrel, while Brent crude futures rose 0.48 per cent to $55.02 a barrel, as per a Reuters report.
