Petrol and diesel prices were hiked again on Saturday across the country touching record high levels in several states.
Witnessing possibly the largest rally in rates, petrol price was hiked by 30 paise a litre and diesel by 35 paise per litre.
This is the fifth consecutive day of the fuel price hike. The price of petrol jumped to its highest-ever level of Rs 103.84 a litre in Delhi, while it is retailing at Rs 109.54 per litre in Mumbai, as per a price notification of state-owned fuel retailers.
Also Read: Fuel rates hiked for fourth straight day; petrol crosses Rs 101 per litre in Chennai
Diesel prices too hit a record high of Rs 92.47 a litre in Delhi and surpassed the Rs 100-a-litre mark in Mumbai. It presently costs Rs 100.29 per litre in the city.
A litre of petrol in Kolkata is priced at Rs 104.52, while diesel is being sold at Rs 95.58 per litre. In Chennai, petrol has become costlier at Rs 101.27 a litre and diesel price has been hiked to Rs 96.93 per litre.
Prices differ from state to state depending on the incidence of local taxes.
Shedding its modest price change policy, state-owned fuel retailers have since Wednesday started passing on the larger incidence of cost to consumers. For three days in a row, petrol price has been hiked by 30 paise a litre and diesel by 35 paise - the biggest rally in rates.
Also Watch: Why petrol and diesel prices are soaring
This is because the international benchmark Brent crude has soared to over USD 82 per barrel after the decision by OPEC+ not to increase output more than 0.4 million barrels per day, fuel rates are being increased by a larger proportion.
A month back, Brent was around $72 per barrel. 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 3.5 paise per litre and petrol price has increased by Rs 2.35.
Prior to the July/August price cuts, 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.
Petrol and Diesel prices in major Indian cities:-
|CITY||PETROL (PER LITRE)||DIESEL (PER LITRE)|
|MUMBAI||Rs 109.83||Rs 100.29|
|DELHI||Rs 103.84||Rs 92.47|
|CHENNAI||Rs 101.27||Rs 96.93|
|BENGALURU||Rs 107.46||Rs 98.15|
|KOLKATA||Rs 104.52||Rs 95.58|
|PATNA||Rs 106.94||Rs 99.00|
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