Petrol, diesel price today: Fuel prices hiked for seventh day in a row, diesel crosses ₹101 mark in Mumbai

By Livemint
A petrol pump staff fills petrol tanks of motorists as fuel prices soar high (HT PHOTO)

Petrol and diesel prices were hiked across the country for the seventh consecutive day on Monday.

Prices of petrol and diesel rise by 0.30 (at 104.44/litre) and 0.35 (at 93.17/litre) respectively in Delhi today.

In Mumbai, petrol is priced at 110.41/litre (up by 0.29) and diesel costs 101.03/litre (up by 0.37) today.

Petrol has become costlier at  105.09 in Kolkata whereas diesel is being sold at  96.28. Meanwhile, in Tamil Nadu's capital city Chennai, petrol price has been hiked to  101.79 and diesel is being retailed at  97.59.

In Karnataka's capital city Bengaluru, petrol price has increased to 108.08 while diesel is being sold at 98.89 per litre

Prices differ from state to state depending on the incidence of local taxes.

For seven days in a row, the price of petrol 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 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 ago, Brent was around USD 72 per barrel.

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.

Prior to the July/August price cuts, the petrol price was increased by 11.44 a litre between May 4 and July 17. Diesel rate had gone up by 9.14 during this period.


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