Petrol and Diesel Prices Touch Record Highs

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After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers.

Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65.93, according to a price notification issued by state-owned oil marketing companies.

With this, diesel prices have touched a record high while petrol is at a 56-month peak. Oil PSUs, who had kept rates unchanged for nearly three weeks before Karnataka went to polls despite input cost spiking, reverted to daily revision in prices no sooner had the state voted to elect a new government on Saturday.

Petrol and diesel prices were last revised on April 24 when they were hiked by 13 paise each. But prices were frozen thereafter considering elections in Karnataka.