Petrol climbs to ₹88.67 per litre in Mumbai, diesel at ₹77.82
In Delhi, petrol now costs ₹81.28 per litre and diesel at ₹73.30 a litre
New Delhi: Petrol and diesel prices on Friday scaled new highs after rates were increased on account of the depreciating rupee and a rise in international crude oil rates.
The price of petrol was increased by 28 paise a litre, and that of diesel by 22 paise, according to a notification by state-owned oil marketing companies.
Petrol in Delhi now costs ₹81.28 per litre and diesel is priced at ₹73.30 a litre. In Mumbai, petrol is retailed at ₹88.67 per litre, in Chennai at ₹84.49 and in Kolkata at ₹83.14.
Diesel costs ₹77.82 per litre in Mumbai, ₹77.49 per litre in Chennai and ₹75.36 per litre in Kolkata.
Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes. Mumbai has the highest sales tax or value added tax (VAT).
A combination of a dip in the rupee value against the dollar and rise in crude oil prices has led to a spike in pump prices since mid-August.
Prices of petrol have since risen by ₹4.20 per litre and prices of diesel by ₹4.53, the most in any month since daily revision in fuel prices was introduced in June last year.
Fuel prices vary from city to city and from pump to pump because of local taxes and transportation cost. Petrol at pumps of Indian Oil Corp (IOC) in Delhi cost ₹81.28 per litre, the fuel sells for ₹81.37 at stations owned by Hindustan Petroleum Corp Ltd (HPCL).
Diesel at HPCL pumps in Delhi costs ₹73.39 and sells for ₹73.30 at IOC outlets. IOC is India’s largest oil firm with almost half of the market share.
In Mumbai, petrol at IOC pumps costs ₹88.67, while it costs ₹88.72 at BPCL outlets and ₹88.75 at HPCL stations. Diesel in Mumbai at BPCL outlet costs ₹77.87, at HPCL pumps ₹77.90 and at IOC outlets ₹77.82 per litre.
Domestic retail prices are benchmarked to international prices of fuel.
Editor's Picks »
- Q3 results: HUL growth off a high base shows it’s on a roll
- DCB Bank Q3 results: Small loans give big pain as farm, mortgages lift delinquencies
- 1 step forward, 2 steps back. Is GST going the VAT way?
- Mindtree delivers stable Q3 results after a shock Q2
- RIL Q3 results today: Will Reliance Jio, Reliance Retail make up for lost energy?