Petrol rates were increased by 25 paise - 35 paise and diesel rates went up by 35 paise on 21 October. Fuel rates were last hiked on 20 October. Petrol and diesel rates were kept unchanged on 19 October and 18 October.
After the recent hike, petrol costs Rs 106.54 per litre in Delhi and diesel is selling for Rs 95.27 per litre in the national capital. Petrol used in two wheelers and cars costs 33 per cent more than aviation turbine fuel ATF sold to airlines. In Delhi, 19 kilo litre or roughly Rs 79 litre.
Petrol costs Rs 112.44 per litre in Mumbai, while diesel is now selling for Rs 103.26 per litre in India s financial capital. Petrol is inching closer to the Rs 104 per litre mark in Chennai and is currently selling at Rs 103.61 per litre. A litre of diesel, on the other hand, costs Rs 99.59 in Chennai.
Petrol and diesel cost Rs 107.11 per litre and Rs 98.38 per litre in Kolkata respectively. Petrol and diesel are the most expensive in Bhopal among the major Indian cities. A litre of petrol is available for Rs 115.27, while diesel is priced at Rs 104.52 per litre in Bhopal.
State-backed oil marketing companies OMCs — Indian Oil Corporation Limited IOCL Bharat Petroleum Corporation Limited BPCL and Hindustan Petroleum Corporation Limited HPCL revise petrol and diesel rates daily on the basis of value-added tax VAT levied on fuel across different states, freight charges, average price of benchmark fuel in the international market in the past 15 days and foreign exchange rate. These revisions become effective from 6 am in the morning.
Oil prices shot up on Thursday on supplies of gasoline reaching lowest levels since 2019. US crude stocks fell by 431,000 barrels in the week to October 15 to 426.5 million barrels, while US gasoline stocks fell by 5.4 million barrels in the week to 217.7 million barrels, lowest since November 2019, the US Energy Information Administration said.
While Brent crude futures went up by 17 cents or 0.2 per cent to $85.99 per barrel, US West Texas Intermediate WTI crude futures gained 37 cents or 0.4 per cent to $83.79 per barrel, Reuters reported.
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