Fuel prices hiked again; diesel past Rs 94 in Delhi

Petrol and diesel prices on Saturday rallied to their highest ever levels across the country for the third straight day as fuel rates were increased again by 35 per litre.

The price hike pushed the price of petrol in Delhi to Rs 105.49 per litre and diesel to Rs 94.22 a litre. In Mumbai, a litre of petrol and diesel is retailing at Rs 111.43 and Rs 102.15 per litre respectively.

In Kolkata, petrol now costs Rs 106.10, while diesel is retailing at Rs 97.33 a litre. In Chennai, petrol is priced at Rs 102.70 per litre and Rs 98.59 a litre.

Also Read: Fuel prices hit record highs after another hike; petrol past Rs 105 in Delhi, Rs 111 in Mumbai

In Bengaluru, a litre of petrol of costs Rs 109.16 per litre and diesel is retailing at Rs 100.00 a litre. In Hyderabad, petrol is priced at Rs 109.73, whereas diesel costs Rs 102.80 per litre. There was no change in rates on October 12 and 13.

Since the ending of a three-week-long hiatus in rate revision in the last week of September, this is the 15th increase in petrol price and the 18th time that diesel rates have gone up.

While petrol price in most of the country is already above Rs 100-a-litre mark, diesel rates have crossed that level in a dozen states, including Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chhattisgarh, Bihar, Kerala, Karnataka and Leh.

Prices differ from state to state depending on the incidence of local taxes.

Shedding the modest price change policy, state-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers.

Also Read: Fuel prices linked to global rates; Centre, states have to handle, says FM Sitharaman

This is because the international benchmark Brent crude is trading at $84.61 per barrel for the first time in seven years.

A month back, Brent was trading at $73.51.

Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices.

The surge in international oil prices ended a three-week hiatus in rates on September 28 for petrol and September 24 for diesel.

Since then, diesel rates have gone up by Rs 5.25 per litre and petrol price has increased by Rs 4.25.

Before that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.

(With inputs from PTI.)