Petrol, diesel prices today: Fuel rates hiked again for 4th consecutive day

Petrol and diesel prices reached all-time high as fuel rates continued to rise by 35 paise/litre across the country for the fourth consecutive day on Sunday. With the latest hike, in Delhi, prices of petrol and diesel raised by Re 0.35 to Rs 105.84/litre while diesel will now cost Rs 94.57/litre respectively in Delhi today.

In Mumbai, petrol prices increased by ₹0.34 to ₹111.77 while the cost of diesel increased by ₹0.37 to ₹102.52.

Similarly, after 4th consecutive hike, petrol and diesel have been priced at ₹106.43 per litre and ₹97.68 per litre respectively in Kolkata.

In Chennai, petrol and diesel cost ₹103.01 per litre and ₹98.92 per litre respectively.

In Bengaluru, petrol is available at ₹109.53 per litre and diesel at ₹100.37 and in Hyderabad, one litre of petrol is now available at ₹110.09 and diesel cost ₹103.08 for one litre of diesel.

Oil companies started raising auto fuel prices over a week ago. The pause on the prices on October 12 and 13 came after a seven-day consecutive rise. This is the fourth straight day of 35 paise per litre increase in petrol and diesel prices. There was no change in rates on October 12 and 13.

Diesel prices have now increased 19 out of the last 23 days taking up its retail price by Rs 5.95 per litre in Delhi.

With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week. Petrol prices have also risen on 16 of the previous 19 days taking up its pump price by Rs 4.65 per litre.

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

Crude price has been on a surge rising over three years high level of over $ 84.6 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.

Prices differ from state to state depending on the incidence of local taxes.