Petrol and diesel prices went up by 35 paise for the sixth consecutive day on November 1. Fuel rates were last revised on October 31.
After the recent rise in prices, petrol now costs Rs 109.69 per litre in Delhi while diesel is being sold for Rs 98.42 per litre in the national capital. Petrol costs 32.79 per cent more than aviation turbine fuel (ATF) sold to airlines in Delhi. ATF costs Rs 82,638.79 per kilo litre or roughly Rs 82.6 per litre in Delhi.
Petrol is selling for Rs 115.50 per litre and diesel is priced at Rs 106.62 per litre in Mumbai. Petrol is available for Rs 110.15 per litre in Kolkata and diesel has climbed to Rs 101.56 per litre. While petrol is priced at Rs 106.35 per litre in Chennai, diesel costs Rs 102.59 per litre in the city.
Fuel is the most exorbitantly priced in Bhopal—Madhya Pradesh’s capital city among metros. Petrol costs Rs 118.46 per litre in Bhopal and diesel is priced at Rs 107.90 per litre in the city.
PETROL, DIESEL PRICES IN MAJOR INDIAN CITIES ON NOVEMBER 1, 2021
Outside the metros, petrol and diesel prices have touched record highs. Petrol is the costliest in Rajasthan’s Sri Ganganagar district, located near the India-Pakistan border. Petrol costs Rs 122.32 per litre whereas diesel is selling for Rs 113.21 per litre in the district.
In Madhya Pradesh’s Annupur, petrol costs Rs 121.44 per litre and diesel is priced at Rs 110.66 per litre. Petrol is all set to reach the Rs 121 per litre mark and is currently available for Rs 120.87 per litre and diesel is available for Rs 110.13 per litre in Madhya Pradesh’s Balaghat.
State-backed oil marketing companies revise petrol and diesel prices daily on the basis of value-added tax (VAT) levied on fuel across different states, freight charges, average price of the benchmark fuel in the international market in the past 15 days and foreign exchange rate. These revisions become effective from 6am every morning.
GLOBAL OIL PRICES
Oil prices fell after China said that it has released gasoline and diesel reserves to boost supply whereas investors unwound long positions ahead of an OPEC+ meeting on November 4. Brent crude futures went down by 20 cents or 0.2 per cent to $83.52 per barrel and US West Texas Intermediate (WTI) crude futures dropped by 37 cents or 0.4 per cent to $83.20 per barrel, Reuters reported.
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