Fuel Rates Hiked Again: Petrol Price at All-Time High, Crosses ₹111 a Litre in Mumbai


New Delhi: Petrol and diesel prices were hiked on Saturday taking its retail rates to record high levels across the country affecting consumers this festive season. This is the 15th time that petrol price has been hiked in two weeks while diesel rates have gone up on 17 times in three weeks. There was no change in rates on October 12 and 13.Also Read – ‘You Must’ve Taken Free Vaccine, Where Will The Money Come From?’: Minister on Rising Fuel Prices

In Delhi, the petrol price was hiked by 35 paise per litre, taking it to Rs 105.49. The price of diesel in the national capital has gone up to Rs 94.22 per litre with the hike in price by Rs 0.35. Also Read – Fuel Prices Hiked for 6th Day: Petrol Crosses Rs 110, Diesel Rises Above Rs 100. Check Price in Your City

In Mumbai, petrol is priced at Rs 111.43 per litre and diesel costs Rs 102.15 per litre today. Also Read – GST Council Extends Concessional Rates on Covid Medicines Till Dec 31; Keeps Petrol, Diesel Out of Tax Ambit

Here are the petrol and diesel price across the metro cities: 

City Petrol Diesel
Delhi 105.49 94.22
Mumbai 111.43 102.15
Chennai 102.70 98.59
Kolkata 106.11 97.33

Among the four metro cities, fuel rates are the highest in Mumbai. For the unversed, the rates vary across the states due to value-added tax or VAT.

Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week and this week given a spurt in the product prices lately. Petrol prices have also risen on 14 of the previous 17 days taking up its pump price by Rs 3.95 per litre.

OMCs had preferred to maintain their watch prices on global oil situation before making any revision in prices. This is the reason why petrol prices were not revised for last three weeks. But extreme volatility in global oil price movement has now pushed OMCs to effect the increase.

Crude price has been on a surge rising over three year high level of over $84.5 a barrel now. Since September 5 when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

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