Fuel prices hiked for 11th straight day, petrol crosses Rs 90-mark in Delhi: Check rates

WHAT?

In Delhi, petrol price was increased by 31 paise per litre and diesel by 33 paise a litre. 

With this, the petrol price in Delhi has crossed the Rs 90-mark to settle at Rs 90.19 a litre, while diesel price has reached Rs 80.60 a litre.

WHY?

International oil prices have been on the boil since Saudi Arabia pledged additional voluntary output cuts of 1 million barrels per day in February and March under a deal between the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia.

This has resulted in oil prices rising to USD 63 per barrel, the highest level in more than a year.

WHO?

Oil Minister Dharmendra Pradhan had on Wednesday blamed output cut by oil-producing nations for the rally in international oil prices that have translated into higher retail rates in India