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Petrol price hits fresh record highs across India, nears ₹109/L in Mumbai

By Priyanka Verma 
Updated Date

Petrol, diesel prices touched another record high in all major cities on October 5. Today, petrol prices were hiked by 22 to 29 paise per litre while diesel became costlier by 28 to 32 paise per litre across major cities of the country.

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After the latest round of price hike, petrol is retailing at Rs 102.64 per litre in Delhi and Rs 108.67 per litre in Mumbai, while diesel is sold at Rs 91.07 per litre in Delhi and Rs 98.80 per litre in Mumbai.

In Kolkata, petrol prices jumped to Rs 103.36 per litre and diesel prices to Rs 94.17 per litre. In Chennai, petrol was retailing at Rs 100.23 and diesel at Rs 95.59 a litre.

Here are petrol and diesel prices today across the four metro cities:

.Delhi – Petrol Price (In Rs),,Diesel Price (In Rs )- 102.64 91.07
.Mumbai – Petrol Price (In Rs),,Diesel Price (In Rs )- 108.67 98.80
.Chennai – Petrol Price (In Rs),,Diesel Price (In Rs )- 100.23 95.59
.Kolkata – Petrol Price (In Rs),,Diesel Price (In Rs )- 103.36 94.17
Source: Indian Oil

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Worth mentioning here is that petrol and diesel prices differ from state to state, as VAT rates charged by states are different.

It may be noted that Brent crude price, which is linked to India’s crude basket, is now hovering above $81 per barrel. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) resumed daily price revisions on September 24.

The Dollar-rupee exchange rate also has an impact on local fuel prices are crude oil is traded in dollars.

Such high retail prices of petrol and diesel are also because of the excise duty charged on the fuel. The Centre has increased excise duty on diesel by 43% and on petrol by 68% in the last 12 months to boost its revenue amid the pandemic.

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