Petrol and diesel prices increased for the fourth consecutive day to touch an all-time high across the country on October 23, according to a price notification of state-owned fuel retailers.
With the latest revision of 35 paise a litre, the price of petrol in Delhi crossed Rs 107-mark on the day. The fuel rose to its highest-ever level of Rs 107.24 a litre. Diesel price also increased by 35 paise and took the fuel rate to Rs 95.97 per litre in the financial capital.
In Mumbai, the price hike took the price of petrol to Rs 113.12 per litre and that of diesel to Rs 104 per 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.
Kolkata also witnessed a price hike and retailed a litre of petrol at Rs 107.78. Diesel price also increased and reached inches closer to Rs 100-mark. It was sold at Rs 99.08 per litre in West Bengal’s capital.
The fuel prices surged in Chennai too, where a litre of petrol and diesel were retailed at Rs 104.22 per litre and Rs 100.25 per litre, respectively.
Petrol and diesel prices differ from state to state depending on the incidence of local taxes.
This is the fourth consecutive day of the price hike. There was no change in rates on October 18 and 19.
While petrol has already hit the Rs 100-a-litre mark or more in all major cities of the country, diesel has touched that level in over a dozen states.
Petrol price has been hiked on 20 occasions since September 28, when a three-week-long hiatus in rate revision ended. Diesel rates have been increased 23 times since September 24.
Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. The diesel rate had gone up by Rs 9.14 per litre during this period.
Also read | Petrol, diesel prices rise: the most fuel-efficient cars in India
Amid a clamour by the Opposition for cutting taxes to soften record high petrol and diesel prices, Oil Minister Hardeep Singh Puri on October 22 equated the move to 'axing one's own feet', saying such levies funded government schemes to provide free COVID-19 vaccines, meals and cooking gas to millions amid the pandemic. He also said domestic rates are linked to international oil prices, which have shot up due to a variety of reasons which need to be understood.
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