1 min read.Updated: 12 Oct 2021, 08:06 AM ISTLivemint
Fuel price today: The price of petrol in Delhi rose to its highest-ever level of ₹104.44 a litre and ₹110.41 per litre in Mumbai, the notification showed.
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Petrol and diesel prices today remained after being hiked for the last seven days. The continuous hike of fuel products has pushed the rates to a new record high in all the major metro cities across the country.
Meanwhile, diesel price on Monday breached the ₹100-a-litre mark in Kerala and Karnataka as fuel prices were hiked yet again to align domestic rates with firming international oil prices.
Prices differ from state to state depending on the incidence of local taxes.
Shedding the modest price change policy, state-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers.
For six days in a row, the price of petrol has been hiked by 30 paise a litre and diesel by 35 paise, the biggest rally in rates. Prior to that, petrol price was increased by 25 paise and diesel by 30 paise.
This is because the international benchmark Brent crude has soared to a seven-year high of over USD 80 per barrel after producers cartel OPEC choose not to increase output more than 0.4 million barrels per day.
A month ago, Brent was around USD 72 per barrel.
Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices.
The surge in international oil prices ended a three-week hiatus in rates on September 28 for petrol and September 24 for diesel.
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