Petrol and diesel price
on Sunday was hiked again by 35 paise a litre and the auto fuels now cost a
third more than the rate at which ATF is sold to airlines.
The fourth
straight day of 35 paise per litre hike sent petrol and diesel rates to record
highs across the country.
The price of petrol in
Delhi rose to its highest-ever level of Rs 105.84 a litre and Rs 111.77 per
litre in Mumbai, according to a price notification of state-owned fuel
retailers.
In Mumbai,
diesel now comes for Rs 102.52 a litre; while in Delhi, it costs Rs 94.57.
With this rise, petrol is now
at Rs 100-a-litre mark or more in all state capitals while diesel has touched
the 100-mark in over a dozen states.
Diesel crossed the Rs
100-a-litre mark in Bengaluru, Daman and Silvassa.
Petrol used in two-wheelers
and cars now costs 33 per cent more than the price at which aviation turbine
fuel (ATF) is sold to airlines.
ATF in Delhi costs Rs
79,020.16 per kilolitre or Rs 79 per litre.
The costliest fuel is in
the border town of Ganganagar in Rajasthan where petrol comes for Rs 117.86 a
litre and diesel for Rs 105.95.
Since ending of a
three-week long hiatus in rate revision in the last week of September, this is
the 16th increase in petrol price and the 19th time that diesel rates have gone
up.
While petrol price in most
of the country is already above Rs 100-a-litre mark, diesel rates have crossed
that level in over a dozen states/UT including Madhya Pradesh, Rajasthan,
Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chattisgarh, Bihar,
Kerala, Karnataka and Ladakh.
Prices differ from state to
state depending on the incidence of local taxes.
Shedding the modest price
change policy, state-owned fuel retailers have since October 6 started passing
on the larger incidence of cost to consumers.
This is because the
international benchmark Brent crude is trading at USD 84.8 per barrel for the
first time in seven years.
A month back, Brent was
trading at $73.51.
Being a net importer of
oil, India prices petrol and diesel at rates equivalent to international
prices.
The surge in international oil prices ended a three-week hiatus in rates on September 28 for petrol and September 24 for diesel.
Since then, diesel rates
have gone up by Rs 5.95 per litre and petrol price has increased by Rs 4.65.
Prior to that, the petrol
price was increased by Rs 11.44 a litre between May 4 and July 17.
Diesel rate had gone up by
Rs 9.14 during this period.