Pertol And Deisel Prices Unchanged.
After reaching a new high, the price of fule has remained steady.
According to a price announcement from state-owned fuel merchants, petrol and diesel prices remained steady across the country on October 4 after reaching a new high.
On October 3, the price of petrol in Delhi was raised to its highest ever level of Rs 102.39 a litre, while diesel prices reached a new high of Rs 90.77 per litre. On October 4, prices in the national capital remained unchanged.
Fuel prices in Mumbai followed a similar pattern. The price of petrol remained steady at Rs 108.43 per litre. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre. In Maharashtra's capital, the price of diesel remained unchanged at Rs 98.48 a litre.
In Kolkata, the price of a litre of petrol and diesel remained steady at Rs 103.07 per litre and Rs 93.87 per litre, respectively.
A litre of petrol was also sold in Chennai for the same price - Rs 100.01. In Tamil Nadu's capital, the price of diesel remained steady at Rs 95.31 per litre.The impact of local taxes on the price of gasoline and diesel varies from state to state.
The price increase on October 3 was the fifth in less than a week, pushing petrol prices beyond Rs 100 in most major cities throughout the country. In Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, and Telangana, the ninth price hike in ten days pushed diesel prices above Rs 100 in major towns.
After worldwide oil prices approached a three-year high on September 24, state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) commenced daily price revisions. Brent crude, the global benchmark, is currently selling at more than $78 a barrel.
Since September 24, fuel prices have increased by 2.15 paise per litre in eight price rises. This week, the price of petrol increased by Rs 1.25 per litre in five instalments. In July and August, when worldwide oil prices decreased, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre, respectively.
Prior to that, from May 4 and July 17, the price of petrol was hiked by Rs 11.44 per litre. During this time, the price of diesel has increased by Rs 9.14. India relies on imports to cover approximately 85% of its oil demands, therefore local fuel prices are based on worldwide oil prices.
