Fuel prices hit record highs as prices rise again for fifth day in a row; Diesel crosses ₹100 in Mumbai
Petrol and diesel prices on Saturday hit a new high across the country as fuel prices were hiked by 26 paise to 35 paise for the fifth consecutive day.
Petrol price in Delhi was hiked by 30 paise per liter, taking it to Rs 104.23. While diesel costs Rs 92.47 per litre, an increase of 35 paise.
Petrol in Mumbai costs Rs 109.83 per litre, an increase of 29 paise, while diesel costs Rs 100.29 per litre, an increase of 37 paise.
In Kolkata, petrol is priced at Rs 104.52 per litre, which is 29 paise more expensive, while diesel price on Saturday increased by 35 paise to 95.58 per litre.
At the same time, the price of petrol and diesel in Chennai has increased by 26 paise to Rs 101.27 and Rs 96.93 per liter respectively.
Before the cut in July/August prices, the price of petrol was increased by Rs 11.44 per liter between May 4 and July 17.
Prices vary from state to state depending on the incidence of local taxes.
Abandoning its modest price change policy, state-owned fuel retailers have begun passing on major cost incidents to consumers from Wednesday.
Petrol price has been hiked by 30 paise per liter and diesel by 35 paise for three consecutive days – the biggest rally in rates.
This is because international benchmark Brent crude rose above USD 82 a barrel after OPEC+ decided not to increase production by more than 0.4 million barrels per day, fuel rates being increased in large proportion.
A month ago, Brent was around $72 a barrel. Being a net importer of oil, India keeps petrol and diesel prices at par with international prices.
The jump in international oil prices ended a three-week hiatus in rates for petrol on September 28 and diesel on September 24.
Read also: Fuel Price Today: Diesel Inches Close To 100pler In Mumbai; Check Revised Rates
.