Petrol, Diesel Price Today: Fuel prices continued to surge to record high levels on Thursday, October 28, for the second straight day. In the national capital, petrol and diesel rates soared 35 paise to cost Rs 108.29 and Rs 97.02 per litre respectively, according to Indian Oil Corporation.
Petrol now costs 37.07 per cent more than the price at which aviation turbine fuel (ATF or jet fuel) is sold to airlines. ATF in Delhi costs Rs 79,020.16 per kilo litre or roughly Rs 79 per litre.
In Mumbai, a litre of petrol now costs Rs 114.14, and diesel is sold at Rs 105.12 per litre. Petrol prices in Chennai moved above the Rs 105 per litre-mark and is currently sold at Rs 105.13 per litre; while diesel rate stood at 101.25. 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 for a second straight day, with Brent hitting its lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude. Brent crude dropped $1.36, or 1.6 per cent, to $83.22 a barrel, a two-week low. U.S. oil fell $1.28, or 1.6 per cent, to $81.38 a barrel, a one-week low.