Petrol, Diesel Price Surge for 4th Day, Hit Record High in India. Check New Fuel Rates

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This price hike took to price of petrol to its all-time high level at Rs 102.39 per litre in the national capital. This price hike took the price of petrol in Mumbai to Rs 108.43.

Petrol and diesel prices surged to new record highs across the country on Sunday after rates were hiked again following the international oil price hike. Petrol prices jumped by 20-30 paise per litre across India on Sunday.

This price hike took to price of petrol to its all-time high level at Rs 102.39 per litre in the national capital. This price hike took the price of petrol in Mumbai to Rs 108.43. Along with Petrol prices, Diesel also created a big hole in the pocket of people by reaching to a record high leve of Rs 98.48 a litre in Mumbai and Rs 90.77 in Delhi.

This price hike is the fifth increase in the price this week that made the price of petrol above Rs 100 in most major cities of the country. In Chennai , the price of petrol was sold at Rs 100.01. Diesel price also revised to Rs 95.31 per litre in Tamil Nadu’s capital. This was the eighth increase in diesel prices in 10 days, which has shot up the fuel rates above Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.

The price revision in petrol pushed its price above Rs 103 per litre in Kolkata. The price of Diesel also witnessed a hike here and retailed at Rs 93.87 per litre on the day. The prices of these essential commodities varied from state to state depending solely on the basis of different local taxes imposed by the local government.

The price of petrol, diesel is also rising tracking the international oil prices that are trading at a level which is highest in the last three years.

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. Global benchmark Brent crude is trading above $78 per barrel.

When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre. Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.

India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices.

Following are the prices of diesel and petrol across some cities in the country: