Delhi: Diesel price hits record high of Rs 70.21 a litre, petrol reaches Rs 78.52 a litre

After the fall of rupee in the international market, the diesel price in India hit an all-time record high of Rs 70.21/litre, with an increase of Rs 0.28 per litre in New Delhi on Friday. The price in Delhi, at which petrol being sold is Rs 78.52/litre, which was witnessed after an increase of Rs 0.22/litre from Thursday.

Meanwhile, the petrol price too got affected in the major metropolitan district and is being sold at Rs Rs 85.93 per litre (an increase of 0.21/litre in Mumbai. The revised rates were applicable from 6 am in the morning.

Analysts are of the opinion that this might be because of the fact that the rupee fell to a new record lifetime low against the US dollar on August 30. The downward slide continued to fall and it dropped to 70.68 per US dollar in opening trade. For the entire day, rupee continued to fall. This was the second biggest single-day crash since August 13 on Wednesday. Earlier, the rupee’s lowest fall was 70.16 to the dollar on August 27. On Friday, the rupee even fell to 70.93/94.

As per to the report published by business news wire Reuters, the downward slide was triggered by factors like crude prices hitting highs on multiple months.

ALSO READ: Rupee collapses to lifetime low, falls 18 paise against US dollar