New Delhi: Petrol and diesel prices were hiked today pushing the rates to record high-level ahead of Diwali. Oil marketing companies decided to increase the fuel rates after a pause in revision of prices for two consecutive days. With this, petrol price in Delhi on Wednesday skyrocketed to Rs 107.94 per litre and diesel rate soared to Rs 96.67 a litre. In Mumbai, petrol will cost you Rs 113.80 per litre and diesel rate is Rs 104.75 a litre.
Petrol, Diesel Rates Today
In Chennai, petrol price is Rs 104.83 per litre and diesel rate is 100.92 a litre. Petrol price in Kolkata is Rs 108.46 per litre and Diesel rate is Rs 99.78 a litre.
The fuel prices remained static on October 18 and 19, but increased for five consecutive days between October 20 to 24. Then there was a two-day pause in revision of fuel rates on October 25 and 26.
State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) do the daily price revisions. 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, as per PTI report.
Meanwhile, international Brent Crude Oil Price has been on a surge rising over a three-year high level of over USD 86 per barrel as global demand remains firm while OPEC+ continues to move slowly on increasing production, as per an IANS report.
Since September 5, the price of petrol and diesel in the international market is higher by around USD 9-10 per barrel as compared to average prices during August, the IANS report says.
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