After a one-day pause, petrol and diesel prices were hiked again across metros on September 30. The price of petrol in Delhi went up by 25 paise to Rs 101.64, while diesel prices saw a rise of 20 paise to retail at Rs 89.87.
In Mumbai, fuel prices witnessed a similar trend. The petrol price went up to Rs 107.71 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 went up from Rs 97.21 to Rs 97.52 per litre in Maharashtra’s capital.
In Kolkata, people have to shell out Rs 102.17 for litre of petrol and diesel costs 92.97.
Petrol price in Chennai was hiked to Rs 99.36 from earlier Rs 99.15 a litre, while diesel costs Rs 94.45 per litre in Tamil Nadu’s capital.
Petrol & Diesel Rates Yesterday
Petrol and diesel prices differ from state to state depending on the incidence of local taxes.
The September 28 hike was the first price increase in petrol in more than two months and the fourth in case of diesel. The increase followed international oil prices rising for the fifth consecutive day and global benchmark Brent heading for $80 per barrel.
In four price increases since September 24, diesel rates have gone up by 95 paise per litre. This negates three-fourths of the Rs 1.25 a litre cut in prices that happened between July 18 and September 5. Before this, diesel price was last increased on July 15. The last increase in petrol rate was on July 17.
When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre. 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.The price hike during this period pushed petrol prices above the Rs 100-a-litre mark in more than half of the country, while diesel crossed that level in at least three states. India is dependent on imports to meet nearly 85 percent of its oil needs and so benchmarks local fuel rates to international oil prices.