Petrol, Diesel Prices Hit New All-time High After Fresh Hike. Check City-Wise Revised Rates

Petrol, Diesel Prices Today: In the financial capital Mumbai, petrol prices have now risen to Rs 113.12 per litre while diesel to Rs 104.00 a litre, the highest among all metros.

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Petrol, Diesel Prices Today: Fuel rates on Saturday hit an all-time high after prices rose again due to a surge in global crude oil rates. According to Indian Oil Corporation, petrol and diesel were retailing at Rs 107.24 per litre and Rs 95.97 per litre respectively after an increase of 35 paise.

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In the financial capital Mumbai, petrol prices have now risen to Rs 113.12 per litre while diesel to Rs 104.00 a litre, the highest among all metros. Prices differ from state to state, depending on the incidence of local taxes.

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

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City Petrol Diesel
Delhi 107.24 95.97
Mumbai 113.12 104.00
Chennai 104.22 100.25
Kolkata 107.78 99.08

Earlier this week on Monday and Tuesday, the petrol and diesel prices remained static, but had risen for four straight days by 35 paise per litre previously before rising again for three consecutive days on Wednesday, Thursday and Friday. There was no change in rates on October 12 and 13.

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Notably, petrol prices had maintained stability since September 5 but oil companies finally raised the pump prices last week.Petrol prices have also risen on 19 of the previous 24 days taking up its pump price by Rs 5.70 per litre.

Why are fuel prices rising?

Crude prices have been on a surge rising over a three year-high level of over $ 85 a barrel now as global demand remains firm while OPEC+ continues to move slowly on increasing production. It has softened to just below $85 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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Published Date:October 23, 2021 8:30 AM IST

Updated Date:October 23, 2021 8:34 AM IST

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