Fuel Hit New Highs; Petrol, Diesel Prices Hiked Again

After a one-day respite, petrol and diesel prices were raised across the metros on Tuesday, October 5. According to Indian Oil Corporation, the price of petrol in the national capital has increased by 25 paise from Rs 102.39 per litre to Rs 102.64 per litre, and the price of diesel has climbed by 30 paise from Rs 90.77 per litre to Rs 91.07 per litre.

Because of the VAT, fuel prices differ from state to state. Before making any rate changes, the OMCs opted to keep a close eye on the global oil situation. This is why the gasoline prices have not been revised in the last three weeks. However, the significant volatility in global oil prices has forced OMCs to implement the hike.

Petrol now costs Rs 108.67 per litre in Mumbai, while diesel costs Rs 98.80 per litre in Mumbai, following the recent price hike.

Petrol prices in Kolkata have risen to Rs 103.36 per litre, while diesel prices have risen to Rs 94.17 per litre. In Chennai, a litre of petrol cost Rs 100.23 and a litre of diesel cost Rs 95.59.

The cost of petrol and diesel varies per state, based on the impact of municipal taxes.

The price hike on Tuesday was the sixth in less than a week, with fuel rates in most major Indian cities hovering around Rs 100. In several cities, the ninth price hike in 11 days pushed diesel prices above Rs 100.

City	Petrol	Diesel
Delhi	102.64	91.07
Mumbai	108.67	98.80
Chennai	100.23	95.59
Kolkata	103.36	94.17