Petrol, diesel prices continue to remain at record highs with no reduction in rates on October 13. Oil Marketing Companies kept the fuel rates unchanged across metros, according to a price notification of state-owned fuel retailers.
In the last price revision, petrol cost in Delhi was hiked to its highest ever level of Rs 104.44 per litre and diesel rates, too, touched a record high of Rs 93.17 per litre on October 11.
In Mumbai, fuel prices witnessed a similar trend. The petrol price remained unchanged and retailed at Rs 110.41 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 remained the same and sold at Rs 101.03 per litre in Maharashtra’s capital.
The fuel prices remain unchanged in Kolkata too, where a litre of petrol and diesel were retailed at Rs 105.09 per litre and Rs 96.28 per litre, respectively.
Chennai also retailed a litre of petrol at the same price - Rs 101.79. Diesel price also remained unchanged at Rs 97.59 per litre in Tamil Nadu’s capital.
Petrol and diesel prices differ from state to state depending on the incidence of local taxes.
With international crude oil prices moving in both directions during July and August, oil marketing companies (OMCs) restrained from any price hike from July 18 to September 23.
Instead, petrol went cheaper by Rs 0.65 a litre and diesel by Rs 1.25. However, with no respite from surging international prices, OMCs began increasing the retail selling price of petrol and diesel with effect from September 28 and September 24, respectively.
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 percent of its oil needs and so benchmarks local fuel rates to international oil prices.
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