Fuel prices on October 17: Petrol price surges over Rs 111 in Mumbai

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

Fuel rates rallied to their highest ever levels across the country on October 17. The price of petrol in Delhi rose to its highest-ever level of Rs 105.84 a litre on the day with an increase of 35 paise on the day. Diesel price also increased by 35 paise and took the fuel rate to Rs 94.57 per litre in the national capital.

In Mumbai, fuel prices witnessed a similar trend. The petrol price increased by 34 paise and retailed at Rs 111.77 a litre. Diesel price also increased by 35 paise and took the fuel rate to Rs 102.52 per litre in the financial capital.

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.

Prices differ from state to state depending on the incidence of local taxes. Shedding the modest price change policy, state-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers.

Petrol now costs Rs 106.43 in Kolkata, and diesel is Rs 97.68 in West Bengal's capital; while in Chennai the fuels are Rs 103.01 and Rs 98.92 respectively.

Since the ending of a three-week-long hiatus in rate revision in the last week of September, this is the 15th increase in petrol price and the 18th time that diesel rates have gone up. While petrol price in most of the country is already above Rs 100-a-litre mark, diesel rates have crossed that level in a dozen states, including Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chhattisgarh, Bihar, Kerala, Karnataka and Leh.

Prior to the July/August price cuts, 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.