Petrol prices highest in more than two years

Diesel prices have risen Rs 3.41 per litre and petrol Rs 2.65 per litre in three weeks following a spike in international oil prices.

Petrol now costs Rs 83.71 in Delhi and Rs 90.34 in Mumbai while diesel is available for Rs 73.87 in Delhi and Rs 80.51 in Mumbai.

Current rates are highest since Oct 4, 2018 for petrol and July 30 this year for diesel.

State oil companies are expected to daily revise domestic rates of petrol and diesel in line with international prices of the respective fuel. But this year, rates have been revised far less frequently, with prices staying frozen for months at times.

Rates of petrol and diesel have risen following a spike in international crude oil prices that are up a quarter since the beginning of November. Crude oil is trading a little above $48 a barrel currently.