Gasoline, diesel prices record high for the third day in a row as prices rose again

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India

oi-Madhuri Adnal

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Published: Thursday, October 7, 2021, 1:46 PM [IST]

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New Delhi, October 7: Gasoline and diesel prices across the country jumped to the highest level of all time on Thursday, as rates rose again in line with the jump in international oil prices.

The price of gasoline increased by 30 paises per liter, and diesel by 35 pairs per liter, according to the announcement of the prices of state fuel traders.

Gasoline, diesel prices record high for the third day in a row as prices rose again

The price of gasoline in Delhi rose to the highest level of 103.24 Rs per liter and 109.25 Rs per liter in Mumbai, the notification showed.

Diesel prices also reached a record value of 91.42 rupees in Delhi and approached the rate of 100 liters in Mumbai. In Mumbai, it currently costs 99.55 rupees per liter.

Prices vary from country to country depending on local tax.

Thursday’s increase pushed rates to a new record. Gasoline crossed the 100-liter Rs limit in Lucknow and Gandhinagar — the last of several state capitals to have rates less than that.

Gasoline prices, dictated by the frequency of local taxes and freight, have already crossed the 100 rupee mark in several places in Uttar Pradesh and Gujarat.

The only capitals of countries where gasoline is now less than 100 rubles are Dehradun, Chandigarh, Guwahati and Ranchi.

Diesel is already above the Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.

Sri Ganganagar, a border town in Rajasthan, had the most expensive fuel in the country, with petrol costing Rs 115.14 per liter and diesel Rs 105.64. UT from Daman had the cheapest gasoline at 98.26 rupees per liter.

State-owned fuel traders have resorted to modest increases in recent days to align domestic rates with costs. But as Brent’s international benchmark jumped to $ 81 a barrel after OPEC + decided not to increase production by more than 0.4 million barrels a day, fuel rates are rising more.

A month ago, Brent was about $ 72 a barrel.

As a net importer of oil, India values ​​petrol and diesel at rates equivalent to international prices.

As international crude oil prices moved in both directions in July and August, oil marketing companies did not increase prices from July 18 to September 23. Instead, the price of gasoline was reduced by 0.65 and diesel by 1.25 rupees. .

However, without a break from the jump in international prices, OMCs began to increase the retail price of gasoline and diesel from September 28 and 24, respectively.

Since then, diesel prices have risen by 3.15 rupees per liter, and the price of gasoline has risen by 2.15 rupees.

Prior to the July / August price cut, the price of petrol increased by Rs 11.44 per liter between 4 May and 17 July. Diesel increased by Rs 9.14 in that period.

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The story was first published: Thursday, October 7, 2021, 1:46 p.m. [IST]



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