Petrol and diesel prices rose on Thursday by 35 paise and 37 paise respectively after two days of remaining constant. Fuel prices were kept unchanged on October 12 (Tuesday) and October 13 (Wednesday). Petrol and diesel rates were last revised on October 11 (Monday).
After the recent revision, petrol now costs Rs 104.79 per litre and diesel is priced at Rs 93.52 per litre in Delhi. Petrol is inching closer towards the Rs 111 per litre mark to settle at Rs 110.75 per litre in Mumbai whereas diesel is retailing at Rs 101.40 per litre in India’s financial capital.
Petrol costs Rs 105.43 per litre and diesel is priced at Rs 96.63 per litre in Kolkata. While petrol has surpassed the Rs 102 per litre mark to settle at Rs 102.10 per litre in Chennai, diesel costs Rs 97.93 per litre.
PETROL, DIESEL PRICES ACROSS MAJOR CITIES TODAY
State-backed oil marketing companies—Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) revise petrol and diesel prices on a daily basis by factoring in taxes levied on fuel across different states, freight rates, average price of the benchmark fuel in the international market over the past 15 days and foreign exchange rate.
GLOBAL OIL PRICES
Oil prices went up on Thursday given the expectations that high natural gas prices may drive a switch to oil to meet heating demand requirements. While Brent crude went up by 28 cents to settle $83.46 per barrel, US West Texas Intermediate (WTI) crude futures shot up by 22 cents to $80.66 per barrel. The hike in prices came on the back of the US Energy Information Administration (EIA) stating that the crude oil output in the United States is going to decline in 2021, Reuters reported.
Edited by Mehak Agarwal
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