Petrol, Diesel Price Today: Fuel prices continued to surge to record high levels on Monday, November 1, for the sixth straight day. In the national capital, petrol and diesel rates soared 35 paise to cost Rs 109.69 and Rs 98.42 per litre respectively, according to Indian Oil Corporation.
Petrol now costs 32.79 per cent more than the price at which aviation turbine fuel (ATF or jet fuel) is sold to airlines. ATF in Delhi costs 82,638.79 per kilo litre or roughly Rs 82.6 per litre.
In Mumbai, a litre of petrol now costs Rs 115.50, and diesel is sold at Rs 106.62 per litre. Petrol prices in Chennai moved above the Rs 106 per litre-mark and is currently sold at Rs 106.35 per litre; while diesel rate stood at 102.59. Among the four metro cities, fuel rates are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax or VAT.
|Source: Indian Oil|
State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.
Globally, oil prices fell after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on November 4. Brent crude futures dropped 20 cents, or 0.2 per cent, to $83.52 a barrel. U.S. West Texas Intermediate (WTI) crude futures slid 37 cents, or 0.4 per cent, to $83.20 a barrel.