Petrol-Diesel / Fuel prices hiked for 3rd straight day in India; petrol costs over ₹109/L in Mumbai

Zoom News : Oct 07, 2021, 10:26 AM
New Delhi: Petrol and diesel prices have been increased for the third consecutive day on Thursday, sending retail rates to all-time high levels, with a "substantial" increase in the offing in coming days as international oil prices continued to rise.

In Delhi, the petrol price has been increased to ₹103.24 per litre whereas diesel has become expensive at ₹91.77 per litre in the national capital, as per price notification by state-run by state-run oil companies.

In Mumbai, fuel rates remain the highest among the metro cities. Petrol is being retailed in the financial capital at ₹109.25 per litre and diesel at ₹99.55 per litre.

Petrol has become costlier at ₹103.94 in Kolkata whereas diesel is being sold at ₹94.88. Meanwhile, in Tamil Nadu's capital city Chennai, petrol price has been hiked to ₹100.75 and diesel is being retailed at ₹96.26.

State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) had on September 24 resumed daily price revision, ending the pause in rates hit since September 5.

The price hike during May-July period pushed petrol prices above the ₹100-a-litre mark in more than half of the country, while diesel crossed that level in at least three states. 

International oil prices rallied to a near seven-year high following a decision by OPEC to maintain its planned gradual increase of supply, despite the market facing an energy crunch. Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices.