Diesel prices at record level; petrol nears all-time high

MCX ServiceDiesel prices touched record high levels across metro cities on Monday, barring Mumbai, and prices of petrol too inched nearer their all-time peak across major cities.

In the national capital, diesel was priced at Rs 69.46 per liter, against the previous high of Rs 69.32
recorded on Sunday, according to data from the Indian Oil Corporation.

In Kolkata and Chennai, the key transportation fuel was priced at Rs 72.31 and Rs 73.38 per liter respectively, up from 72.16 and Rs 73.23 on Sunday, which was themselves record highs.

Cost of diesel in Mumbai, was at Rs 73.74 on Monday, just five paise short of its all-time of Rs 73.79 per liter, recorded on May 29. On Sunday, it was priced at 73.59 in the financial capital of the country.

The rise in prices of diesel gains significance as it is mostly used in the transportation of food and agricultural products and an increase in its price may lead to higher inflation.

The surge in fuel prices is largely attributed to the recent rise in crude oil cost and the high excise duty levied on transportation fuel in the country.

In line with the increase in diesel prices, petrol prices too are on the rise and are nearing their all-time high levels. In Delhi, Kolkata, Mumbai, and Chennai, the fuel was priced Rs 77.91, Rs 80.84, Rs 85.31 and Rs 80.94 per liter, respectively, on Monday, against the previous levels of Rs 85.20, Rs 80.80, Rs 86.24 and Rs 81.43 per liter.

The all-time high petrol prices in Delhi, Kolkata, Mumbai and Chennai are Rs 78.43, Rs 81.06, Rs 86.24 and Rs 81.43 per liter, touched on May 29.

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