Petrol, diesel prices today: Fuel rates hiked again for fourth consecutive day
Petrol and diesel prices hit an all-time high as fuel rates continued to rise by 35 paise/litre across the country for the fourth consecutive day on Sunday. With the latest hike, petrol and diesel prices in Delhi increased by Rs 0.35 to Rs 105.84 per liter, while diesel prices will go up to Rs 94.57 per liter respectively in Delhi today.
Petrol price in Mumbai increased by ₹0.34 to ₹111.77, while that of diesel increased ₹0.37 to ₹102.52.
Similarly, after the fourth consecutive hike, the price of petrol and diesel in Kolkata has gone up to ₹106.43 per liter and ₹97.68 per liter respectively.
The price of petrol and diesel in Chennai is ₹ 103.01 per liter and ₹ 98.92 per liter respectively.
In Bengaluru, petrol is available for ₹109.53 per liter and diesel ₹100.37 and in Hyderabad, a liter of petrol is now available for ₹110.09 and diesel at ₹103.08 for a liter of diesel.
Oil companies started raising auto fuel prices a week ago. The break in prices on October 12 and 13 came after seven days of continuous rise. This is the fourth consecutive day of increase in the prices of petrol and diesel by 35 paise per liter. There was no change in rates on October 12 and 13.
Diesel prices have now increased by 19 out of the last 23 days, taking its retail price in Delhi to Rs 5.95 per litre.
With the rapid increase in diesel prices, the fuel is now available at more than Rs 100 per liter in many parts of the country. This dubious difference was earlier available for petrol, which crossed Rs 100 per liter across the country a few months back.
Petrol prices had remained stable since September 5, but oil companies finally raised pump prices last week. Petrol prices have also gone up in 16 out of the last 19 days and its pump price is Rs 4.65 per litre.
OMCs had preferred to keep their watch prices on the global oil situation before making any revision in the prices. This is the reason why petrol prices were not revised for the last three weeks. But the extreme volatility in the global oil price movement has now prompted OMCs to impact the growth.
Crude oil prices are rising above a three-year high of $84.6 per barrel. Since September 5, when the prices of both petrol and diesel were revised, the price of petrol and diesel in the international market is around $9-10 per barrel higher than the average prices during August.
Prices vary from state to state depending on the incidence of local taxes.
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