Petrol and diesel prices were hiked again across the country for the sixth straight day on Sunday pushing fuel rates to a new record high.
In Delhi, petrol price was increased by 30 paise per litre taking its price to Rs 102.14, whereas diesel rate in the national capital has gone up to Rs 92.82 per litre, an increase of Rs 0.35, according to a price notification of state-owned fuel retailers.
A litre of petrol in Mumbai costs Rs 110.12, up by Rs 0.29, while diesel is retailing at Rs 100.66 per litre, an increase of Rs 0.37. Petrol is being sold at Rs 104.80 in Kolkata, whereas diesel has become costlier by Rs 95.93. In Chennai, petrol now comes for Rs 101.53 per litre and diesel is being retailed at Rs 97.26 a 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.
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.
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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 3.85 paise per litre and petrol price has increased by Rs 2.65.
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. 110.12||Rs. 100.66|
|DELHI||Rs. 104.14||Rs. 92.82|
|BENGALURU||Rs. 107.77||Rs. 98.52|
|CHENNAI||Rs. 101.53||Rs. 97.26|
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