Fuel rates touch fresh highs, petrol price near Rs 110 in Mumbai

Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image)

Fuel prices touched record highs on October 9 across the country. With the fresh revision, the petrol price in Delhi reached a record high of Rs 103.84 a litre and diesel Rs 92.47 a litre.

In Mumbai, petrol retailed at Rs 109.83 and diesel at Rs 100.29 per litre, an increase of 29 paise.

In Kolkata, petrol prices soared to Rs 104.52 per litre and diesel prices to Rs 95.58 per litre on the day, while in Chennai, the rates were Rs Rs 101.27 and Rs 96.93, respectively.

Petrol and diesel prices differ across states, depending on the incidence of local taxes.

The tenth increase in fuel rates since the end of a nearly three-week hiatus has sent petrol prices above Rs 100 a litre in most major cities in the country. The thirteenth hike in prices has driven diesel above Rs 100 in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.

International oil prices rallied to their highest level since 2014, following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.

Oil rose on Friday, gaining about 4 percent on the week as a global energy crunch boostedU.S. prices to their highest in almost seven years as big power users struggle to meet demand, Reuters reported.

The relentless increase in fuel prices has been criticised by the opposition parties who have demanded that the government cut record excise duty on the two fuels to give relief to consumers. The government has so far not agreed to the demand.