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Fuel prices hiked again, hit fresh highs; petrol past Rs 115 in Mumbai

Fuel prices hiked again, hit fresh highs; petrol past Rs 115 in Mumbai

With the latest fuel rate rise, petrol in Delhi now costs Rs 109.34 per litre, whereas diesel is priced at Rs 98.07 a litre in the national capital.

The oil marketing companies hiked the petrol and diesel prices by 35 paise per litre on Sunday. The oil marketing companies hiked the petrol and diesel prices by 35 paise per litre on Sunday.

Petrol and diesel prices were increased again for the fifth straight day on Sunday sending fuel rates to new highs.

The oil marketing companies hiked the petrol and diesel prices by 35 paise per litre. With the latest fuel rate rise, petrol in Delhi now costs Rs 109.34 per litre, whereas diesel is priced at Rs 98.07 a litre in the national capital.

In Mumbai, a litre of petrol and diesel are now retailing at Rs 115.15 and Rs 106.23, while in Kolkata, they cost Rs 109.79 and Rs 101.19.

In Chennai, petrol is priced at Rs 106.04 per litre, while diesel costs Rs 102.25 a litre. In Bengaluru, petrol and diesel are priced at Rs 113.15 and Rs 104.09 per litre, while in Hyderabad, they are available at Rs 113.72 and Rs 106.98 a litre.

Also Read: Petrol, diesel prices rally to highest ever levels after 35 paise hike; check latest rates

The most expensive fuel was in the Ganganagar, Rajasthan, where petrol is priced at Rs 121.62 per litre and diesel costs Rs 112.52 a litre.

Depending on the incidence of value-added tax, petrol and diesel prices differ from State to State.
Meanwhile, the government is in talks with many oil exporting nations, however, there is no likelihood of any immediate relief in fuel prices. 

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.

Also Read: Petrol price crosses Rs 121 per litre mark in border district of MP, diesel touches Rs 110.29 per litre

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

This is because the international benchmark Brent crude has been on an upward trajectory for the past year, first to $50 a barrel, then $75 and now to around $85.

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.

Published on: Oct 31, 2021, 8:46 AM IST
Posted by: Manali, Oct 31, 2021, 8:43 AM IST