Petrol and diesel price today: After remaining steady for two consecutive days, petrol and diesel prices were hiked on Wednesday, October 20, 2021, hitting fresh record highs. In the national capital, the petrol and diesel prices each rose 35 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 106.19 a litre while diesel is selling at Rs 94.92. In the financial capital Mumbai, petrol price now stands at Rs 112.11 while diesel costs Rs 102.89, 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 slipped on Wednesday after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity as Beijing moved to ease a power shortage. Chinese coal prices and other commodity prices slumped in early trade, which in turn pulled oil prices down from an uptick earlier in the day, news agency Reuters reported.
Brent crude futures dropped 43 cents (0.5 per cent) to $84.65 a barrel at 0506 GMT, paring a 75-cent rise in the previous session, but still lingering close to multi-year highs. US West Texas Intermediate (WTI) crude futures for November, which expires on Wednesday, fell 37 cents to $82.59 a barrel. The more active WTI contract for December was down 45 cents (0.6 per cent) to $81.99 a barrel, the report said.
INDIAN EXPRESS
Petrol and diesel hit fresh record highs as prices hiked across India added by Muslim Kashmir on
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