Petrol, diesel prices today: Petrol nears 110 in Delhi in fresh hike

Petrol and diesel price hike continues unabated as oil companies hiked the prices today for the fourth consecutive day this week. The hike continues amid rising prices of global crude oil in the international markets.

Petrol and diesel prices have been increased for the fourth time this week by 35 paise per litre for each fuel. (HT_PRINT)
Petrol and diesel prices have been increased for the fourth time this week by 35 paise per litre for each fuel.

Petrol price in Delhi today has gone up to 108.99 per litre, up by 35 paise per litre. Diesel price in the national capital will now cost 97.72 per litre after a similar hike.

Petrol price in Mumbai today has reached 114.81 per litre, while diesel price has gone up to 105.86. Petrol price in Kolkata is also nearing 110 for the first time in history. It will cost 109.46 per litre today, while diesel is priced at 100.84. Petrol price in Chennai has been hiked to 105.74 per litre, and diesel to 101.92. Petrol price in Bengaluru today has reached 112.79 per litre, and diesel price has gone up to 103.72 per litre.

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Since last week, India has witnessed as many as nine hikes so far in just 13 days. Till Tuesday this week, price of both fuel rose by around 2 per litre. Petrol price has been hiked by as many as 21 times in the last four weeks, while diesel price was hiked 24 times since September 24. The latest hikes have increased petrol and diesel prices by more than 8 per litre. Since May 2020, the price of petrol has gone up by nearly 38 per litre. Diesel too has seen an overall hike of nearly 29 per litre during this period.

While the fluctuating rate of global crude oil is one of the reasons behind the latest spree of fuel price hikes, high tax structure on petrol and diesel also contributes to it. 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. Both fuel also attract variable VAT amounts from different state governments and dealer commissions as well.

First Published Date: 30 Oct 2021, 09:33 AM IST
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