Petrol, diesel prices today: 7th hike in 7 days take petrol past 110 in Delhi

Petrol and diesel prices continue to surge across the country in the seventh hike in as many days today. The oil companies have revised the price of petrol by 35 paise per litre, while diesel remained stable at Monday's rates.

Petrol and diesel prices were hiked for the seventh consecutive day on Tuesday. (File photo) (PTI)
Petrol and diesel prices were hiked for the seventh consecutive day on Tuesday. (File photo)

The latest hike has taken the price of petrol past the 100 mark in Delhi. Petrol price in Delhi today will cost 110.04 per litre. Petrol price in Mumbai has surged to 115.85 per litre. Petrol price in Kolkata has reached up to 110.49 for a litre and 106.66 per litre in Chennai. Petrol price in Bengaluru has also gone up to 113.93 per litre.

While petrol price continues to receive hikes, the diesel price has been spared from another hike this time. As of today, diesel price in Delhi remains at 98.07 a litre. In Mumbai, price of diesel is at 106.23 while in Kolkata, the price stands at 101.56 per litre. Down south in Chennai the price of diesel will cost 102.59 per litre while in Bengaluru, the price remains at 104.09 per litre.

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The central and state government taxes contribute nearly 60% of the petrol retail price and 54% of the diesel retail rate. Currently, the Centre levies excise duties of 32.80 per litre on petrol and 31.80 on diesel. For instance, in Delhi, one needs to pay 58.21 in taxes to buy a litre of petrol. Similarly for diesel, a customer shells out as much as 46.17 for every litre of the fuel.

The spate of hikes, that has been going on for the past 17 months, has caused unprecedented hike in petrol and diesel prices to take them to an all-time high. While the price of petrol has gone up by more than 38 per litre during this period, the price of diesel has also seen a hike that is nearing 30 per litre.

Recent rises in crude oil or natural gas prices in global markets have contributed to the regular hikes seen in the domestic markets. However, despite the hike in global prices, taxes levied on fuel in India remains high and one of the major reasons behind costly fuel.

First Published Date: 02 Nov 2021, 08:40 AM IST
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