Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image)
After two days of pause, petrol prices increased by 30 to 35 paise per litre and diesel prices hiked by 34 to 37 paise a litre across the country to take fuel rates rallied to their highest ever levels on October 20, according to a price notification of state-owned fuel retailers.
The price of a litre of petrol in Delhi crossed Rs 106-mark with an increase of 35 paise on the day. It was sold at Rs 106.19 per litre. Diesel price also increased by 35 paise and took the fuel rate to Rs 94.92 per litre in the financial capital.
In Mumbai, fuel prices witnessed a similar trend. The petrol price increased by 34 paise and retailed at Rs 112.11 a litre. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100 per litre.
Diesel price also hiked by 37 paise and sold at Rs 102.89 per litre in Maharashtra’s capital.
The fuel prices surged in Kolkata too, where a litre of petrol and diesel were retailed at Rs 106.77 per litre and Rs 98.03 per litre, respectively.
Chennai also witnessed a price hike and retailed a litre of petrol at Rs 103.31. Diesel price also increased and reaches inches closer to Rs 100-mark. It was sold at Rs 99.26 per litre in Tamil Nadu’s capital.
Petrol and diesel prices differ from state to state depending on the incidence of local taxes.
With the recent rise, petrol touched Rs 100-a-litre mark or more in all state capitals while diesel touched the 100-mark in over a dozen states. Diesel crossed the Rs 100-a-litre mark in Bengaluru, Daman and Silvassa.
Youth Congress members held demonstrations at petrol pumps in 30 districts against the fuel price hike on October 19. Youth Congress state general secretary Ayush Bhardwaj said the common man is suffering due to the constant rise in fuel prices.
Since the ending of a three-week-long hiatus in rate revision in the last week of September, petrol price has increased 17 times while the diesel price has gone up 20 times.
Shedding the modest price change policy, state-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers. This is because the international benchmark Brent crude is trading at $84.8 per barrel for the first time in seven years.
A month back, Brent was trading at $73.51. 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 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.