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Business

Updated on: Wednesday, October 27, 2021, 08:50 AM IST

Fuel prices at record high levels after latest hike; petrol above Rs 113 in Mumbai

Photo Credit: AFP

Photo Credit: AFP

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Petrol and diesel prices were hiked on Wednesday to take retail rates across the country to new record highs.

In Delhi, petrol and diesel rates soared 35 paise to cost Rs 107.94 and Rs 96.67 per litre respectively, according to Indian Oil Corporation.

In Mumbai, a litre of petrol now costs Rs 113.80, and diesel is sold at Rs 104.75 per litre.

In Chennai, petrol is retailed at Rs 104.83 and diesel at Rs 100.92 per litre while in Kolkata, petrol costs Rs 108.45 and diesel Rs 99.78 per litre.

Due to the sharp hike, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier. Petrol prices had maintained stability since September 5 but oil companies finally raised their pump prices last week.

Crude price has been on a surge rising over a three-year high level of over $86 a barrel as global demand remains firm while OPEC+ continues to move slowly on increasing production. Since September 5, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

(With inputs from Agencies)

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Published on: Wednesday, October 27, 2021, 08:50 AM IST
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