Fuel prices hiked 6 times in last 8 days, even Diesel breaches ₹100 mark while petrol nears ₹110/litre
International oil prices near 3-year high at $81/barrel for Indian basket's Brent Crude.
Fuel prices are up again after a day’s break. In Delhi, petrol saw a 25 paise hike from Rs 102.39 per litre to Rs 102.64 per litre and diesel has become dearer by 30 paise from Rs 90.77 per litre to Rs 91.07 per litre.
Petrol in Mumbai is priced at Rs 108.67 a litre and diesel at Rs 98.80 per litre, as per an Indian Oil Corporation notification.
In Kolkata, petrol prices jumped to Rs 103.36 per litre and diesel prices to Rs 94.17 per litre. In Chennai, petrol was retailing at Rs 100.23 and diesel at Rs 95.59 a litre.
In Bhopal, one has to pay Rs 111.14 per litre for one litre of petrol and Rs 100.05 per litre for one litre of diesel while in Hyderabad, petrol is available at Rs 106.77 per litre and diesel at Rs 99.37 per litre per litre.
It may be noted that Brent crude price, which is linked to India’s crude basket, is now hovering above $81 per barrel.
State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) resumed daily price revisions on September 24 after international oil prices neared a three-year high.
Fuel rates vary across states due to VAT. The OMCs had preferred to maintain their watch prices on global oil situation before making any revision in rates. This is the reason why the petrol prices were not revised earlier for the last three weeks. But extreme volatility in global oil price movement has now pushed OMCs to effect the increase.
