Petrol price was hiked by 30 paise per liter and diesel by 35 paise per liter on Saturday as domestic fuel prices saw perhaps the biggest rally in rates.
Petrol price in Delhi reaches all-time high ₹103.84 per liter and to ₹109.54 per liter in Mumbai, as per the price notification of state-owned fuel retailers.
Diesel prices have also reached a record high ₹92.47 in Delhi and crossed ₹100-a-litre mark in Mumbai. it currently costs ₹100.29 per liter in Mumbai.
petrol has become expensive ₹104.52 in Kolkata while diesel is being sold at ₹95.58. Meanwhile, petrol prices have been hiked in Chennai, the capital of Tamil Nadu. ₹101.27 and is being sold on diesel ₹96.93.
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, with 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.
Since then, diesel rates have increased ₹3.5 paise per liter and the price of petrol has increased ₹2.35.
Before the cut in July/August prices, what was the increase in the price of petrol? ₹11.44 liters per liter between May 4 and July 17. diesel rate hiked ₹During this 9.14.
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