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Updated on: Saturday, October 16, 2021, 10:30 AM IST

Fuel prices hiked after crude price surge; petrol and diesel up 35 paise a litre

FM Nirmala Sitharaman said India had to import almost 99 percent of its petrol and diesel requirements. Representational image | Pixabay

FM Nirmala Sitharaman said India had to import almost 99 percent of its petrol and diesel requirements. Representational image | Pixabay

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Fuel prices were hiked again on Saturday (October 16). Petrol and diesel prices have been raised to hitherto unseen levels across the country by 35 paise a litre. This is because of a rise in Brent crude prices. It rose 0.58 percent to $84.50 per barrel, inching towards a three-year high on Monday.

This is the third consecutive day of increase in petrol and diesel prices. There was no change in rates on October 12 and 13.

With this hike, the price of petrol per litre in the nation's capital has soared to Rs 105.49 and diesel Rs 94.22 each per litre.

In the financial capital-Mumbai, petrol is being retailed at Rs 111.43 per litre and diesel now costs Rs102.15 a litre.

In Kolkata, petrol is being retailed at Rs 106.10 while diesel costs Rs 97.33 per litre. In Chennai, petrol is available at Rs 102.70 and diesel for Rs 98.59.

Petrol prices had been stable since September 5 but oil companies finally raised its pump prices last week and this week. Petrol prices have also risen on 14 of the previous 17 days, hiking its pump price by Rs 3.95 per litre.

Crude price has been on a surge, surpassing a three-year high level of over $84.5 a barrel now. Since September 5, when both petrol and diesel prices were revised, 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.

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Published on: Saturday, October 16, 2021, 10:30 AM IST
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