Fuel prices at an all-time high in India after another hike
Petrol costs more than Rs 100 in all the state capitals today.
The petrol and diesel prices across India were increased by 35 paise on Wednesday, taking the fuel rates to an all-time high in the country, PTI reported. The fuel prices were last increased on Sunday.
In Delhi, petrol cost Rs 106.19 per litre and diesel Rs 94.92 per litre. In Mumbai, a litre of petrol was Rs 112.11 per litre and diesel Rs 102.89 per litre.
After the revision in rates, the price of petrol in Chennai went up to Rs 103.31 and diesel to Rs 99.26, NDTV reported. In Kolkata, the prices of petrol and diesel were Rs 106.78 and Rs 98.03.
In India, fuel was the costliest in Rajasthan’s Ganganagar town, PTI reported. Petrol cost Rs 118.23 per litre, while diesel cost Rs 109.04 in the town.
Petrol cost more than Rs 100 in all the state capitals on Wednesday. Diesel crossed the Rs 100-mark in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chhattisgarh, Bihar, Kerala, Karnataka, Jharkhand, Goa and Ladakh.
This was the 17th increase in the price of petrol and the 20th in diesel rates since a three-week long hiatus in revising the prices ended in the last week of September, according to PTI. Since then, the cost of diesel has gone up by Rs 6.50 per litre and petrol price has increased by Rs 5.
Fuel prices vary in states due to different value-added tax and freight charges. Oil companies revise the fuel prices on the basis of the cost of benchmark fuel in the international market and foreign exchange rates.
India depends on imports to meet 85% of its oil needs. Thus, a rise in international oil prices directly influences national fuel rates.
Meanwhile in the global markets, Brent crude oil prices fell by 0.94% to $84.28 (Rs 6,307.59) per barrel, according to Bloomberg.
Brent is a global price benchmark for the crude oils from the Atlantic basin. It is used to set the price of two-thirds of the world’s trade of crude oil supply.