Petrol Crosses Rs 110 Mark In Hyderabad, Surges Over Rs 111 In Mumbai

On October 17, fuel prices soared to their highest ever levels across the country. On the day, the price of petrol in Delhi reached its highest-ever level of Rs 105.84 a litre, an increase of 35 paise. In the national capital, the price of diesel increased by 35 paise, bringing the price to Rs 94.57 a litre.

In a dozen states, including Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chattisgarh, Bihar, Kerala, Karnataka, and Ladakh, diesel, dubbed the "common man's fuel," has surpassed the 100-level.

Prices vary by state, based on the amount of local taxes levied. State-owned fuel merchants have been passing on the higher incidence of cost to consumers since October 6, eschewing the modest price rise strategy.

In Kolkata, petrol costs Rs 106.43 and diesel costs Rs 97.68, while in Chennai, the prices are Rs 103.01 and Rs 98.92, respectively.

State-owned fuel merchants have been passing on the higher incidence of cost to consumers since October 6, eschewing the modest price rise strategy. For the first time in seven years, the international benchmark Brent crude is trading at USD 84.8 a barrel. Brent was trading at USD 73.51 a month ago. Because India is a net importer of oil, it charges world prices for gasoline and diesel.

On September 28 for petrol and September 24 for diesel, a three-week respite in rates was broken by a spike in worldwide oil prices. Since then, the price of diesel has risen by Rs 5.6 per litre, while the price of petrol has risen by Rs 4.30 per litre.

Prior to that, from May 4 and July 17, the price of petrol was hiked by Rs 11.44 per litre. During this time, the price of diesel increased by Rs 9.14 per litre.