Petrol and diesel prices hiked again, hit fresh highs

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Petrol and diesel prices hiked again, hit fresh highs

Petrol and diesel price today: Prices of petrol and diesel touched new record highs after they were hiked for the second consecutive day across the country on Thursday, October 28, 2021. In the national capital, both petrol and diesel prices were risen by 35 paise each.

Following the latest price revision, petrol in Delhi is now retailing at Rs 108.29 a litre while diesel is selling at Rs 97.02. In the financial capital Mumbai, petrol price now stands at Rs 114.14 while diesel costs Rs 105.12, data available on Indian Oil Corporation’s website showed.

In India, the fuel prices differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

The OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

In the international market, oil prices fell after US crude oil stockpiles rose more than expected, even as fuel inventories dropped and tanks at the nation’s largest storage hub emptied further. The bigger-than-expected rise in US crude stocks gave some investors an impetus to unload long positions after strong gains in recent weeks brought both the Brent and US crude benchmarks to multi-year highs, news agency Reuters reported.

Brent fell 1.8 per cent to $83.07 per barrel, off Monday’s seven-year high of $86.70 while US crude fetched $81.25 per barrel, down 1.7 per cent and off Monday’s peak of $85.41, a seven-year high, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, October 28, 2021:

City Petrol (Rs/litre) Diesel (Rs/litre)
New Delhi 108.29 97.02
Mumbai 114.14 105.12
Kolkata 108.78 100.14
Chennai 105.13 101.25
Bengaluru 112.06 102.98
Hyderabad 112.64 105.84
Patna 112.04 103.64
Bhopal 116.98 106.38
Jaipur 115.57 106.85
Lucknow 105.22 97.48
Thiruvananthapuram 110.54 104.25
Source: Indian Oil Corporation 

 

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