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  1. Diesel price highest ever in India’s history; petrol hits near 5-year high

Diesel price highest ever in India’s history; petrol hits near 5-year high

As international crude oil price touches a four year high of $74 a barrel, diesel price hits the highest level ever witnessed in India's history, while petrol price has touched a near five-year high. Check petrol and diesel prices in four metros: Delhi, Mumbai, Chennai and Kolkata.

By: | Updated: April 20, 2018 2:50 PM
Diesel price highest ever in India's history; petrol hits near 5-year high Petrol and diesel prices on April 20 were hiked by 1 paisa and 4 paise respectively. (Image: Reuters)

As international crude oil price touches a four year high of $74 a barrel, diesel price hits the highest level ever witnessed in India’s history, while petrol price has touched a near five-year high. Petrol and diesel prices on April 20 were hiked by 1 paisa and 4 paise respectively, according to Indian Oil’s website.

The petrol price in Delhi was hiked to Rs 74.08 a litre; Kolkata Rs 76.78; Mumbai Rs 81.93; Chennai Rs 76.85. while diesel price in Delhi was hiked to Rs 65.31; Kolkata Rs 68.01; Mumbai Rs 69.54; Chennai Rs 68.90. The petrol price is at the highest level since September 2013.

(Data: Indian Oil)

The petrol and diesel prices are rallying since October 2017 despite an excise duty cut of Rs 2 by the Narendra Modi government on higher crude oil price. Earlier today former Finance Minister P Chidambaram slammed the government over the rising fuel prices, saying that the BJP is clueless and floundering without the low price “oil bonanza”.

(Data: Indian Oil)

The Narendra Modi government benefitted from the three-year-long low crude oil price windfall, which allowed them to hike the excise duty on them significantly. Due to higher excise duty, petrol and diesel prices are at a much higher level than they were at the same level of crude oil price.

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