Petrol price hiked for 14th time in 2 weeks, touches ₹105 per litre in Delhi

Gasoline and diesel prices across the country rose again on Friday, the second consecutive increase after a two-day suspension. Gasoline prices in the capital rose by ₹0.35 to ₹105.14 per liter, while diesel prices rose to ₹93.87 per liter.

In Mumbai, commonly known as the financial capital of India, gasoline prices rose by 0.34 rupees to 111.09 rupees per litre, and diesel prices rose by 0.37 rupees to 101.78 rupees per litre. Gasoline and diesel prices in Kolkata, West Bengal are 105.76 rupees and 96.98 rupees, respectively, and Chennai are 102.40 rupees and 98.26 rupees respectively.

In Bangalore, the price of gasoline is 108.80 rupees per liter and the price of diesel is 99.63 rupees, while in Hyderabad, the price of a liter of gasoline is 109.37 rupees, the price of diesel is 102.42 rupees, and the price of diesel is 102.42 rupees per liter. This is the 14th time that gasoline prices have risen in two weeks, while diesel prices have risen 17 times in three weeks. Petroleum companies started to increase car fuel prices last week.

After 7 consecutive days of rising, prices were suspended on October 12th and 13th. Although the gasoline price in most parts of the country has exceeded 100 rupees per liter, but in Madhya Pradesh, Rajasthan, Orissa, Andhra Pradesh, Telangana, Gujarat, Maharashtra States, Chattisgarh, Bihar, Kerala, Karnataka and Leh. Prices vary from state to state, depending on the occurrence of local taxes. Getting rid of the mild price change policy, state-owned fuel retailers began to pass on greater costs to consumers from October 6. This is because the international benchmark Brent crude oil jumped to around US$84 per barrel for the first time in seven years. On September 13, the trading price of Brent crude oil was $73.51.

As a net importer of oil, India prices gasoline and diesel at prices comparable to international prices. The surge in international oil prices ended the three consecutive weeks of suspension of gasoline rates on September 28 and diesel rates on September 24. Since then, the price of diesel has increased by 4.9 rupees per liter and the price of gasoline has increased by 3.9 rupees. Prior to this, gasoline prices rose by ₹11.44 per liter between May 4 and July 17. During this period, diesel prices increased by ₹9.14.

News Source : Mint