This Article is From Nov 02, 2021

Petrol Rates Hiked For Seventh Straight Day, Crosses Rs 110-Mark In Delhi

Petrol prices continued to surge to record high levelson Tuesday, November 2, for the seventh straight day.

In Delhi, petrol rates soared 35 paise to Rs 110.04.

Petrol, Diesel Price Today: Petrol prices continued to surge to record high levels on Tuesday, November 2, for the seventh straight day. In the national capital, petrol rates soared 35 paise to Rs 110.04; while diesel rate remained unchanged at 98.42 per litre, according to Indian Oil Corporation.

Petrol now costs 33.22 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 115.85, 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 106.66 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.

CityPetrolDiesel
Delhi110.0498.42
Mumbai115.85106.62
Chennai106.66102.59
Kolkata110.49101.56
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 rose as key producer group OPEC undershot its expected pace of output increases last month, while the world's top oil consumer China ramped up operating rates to meet a spike in diesel demand. Brent crude futures gained 28 cents, or 0.3 per cent, to $84.99 a barrel while U.S. West Texas Intermediate (WTI) crude futures rose by 19 cents, or 0.2 per cent, to $84.24 a barrel.

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