Fuel prices today: Petrol inches closer to Rs 107 per litre in Delhi; check latest rates here

Fuel prices have shot up for the third straight day on October 22. While petrol rates have risen by 31 paise- 35 paise, diesel rates have gone up by 33 paise-37 paise. Fuel rates were last hiked on October 21. Prior to this, fuel prices were kept unchanged on October 18 and 19.

After the recent rise in prices, petrol is inching closer towards the Rs 107 per litre mark and currently is selling for Rs 106.89 per litre in Delhi. Diesel is selling for Rs 95.62 per litre in the national capital. Petrol is now 35.3 per cent costlier in Delhi than aviation turbine fuel (ATF), sold to airlines. ATF now costs Rs 79,020.16 per kilo litre or approximately Rs 79 per litre in the national capital.

Petrol is reaching closer to Rs 113 per litre mark and currently is selling for Rs 112.78 per litre in Mumbai. Diesel now costs Rs 103.63 per litre in India’s financial capital. In Chennai, petrol costs Rs 103.92 per litre while diesel is priced at Rs 99.92 per litre.

Petrol and diesel cost Rs 107.44 per litre and Rs 98.73 per litre in Kolkata respectively. Petrol and diesel are the most exorbitantly priced in Bhopal and Jaipur among the major Indian cities today. Petrol is priced at Rs 115.54 per litre and diesel is being sold for Rs 104.89 per litre in Bhopal. A litre of petrol is being sold for Rs 114.11 per litre whereas diesel is being sold for Rs 105.34 per litre in Jaipur.

PETROL, DIESEL RATES ACROSS MAJOR INDIAN CITIES ON OCTOBER 22, 2021 (FRIDAY)

State-backed oil marketing companies (OMCs) – Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) revise petrol and diesel rates daily by factoring in value-added tax (VAT) levied on fuel across different states, freight charges, average price of benchmark fuel in the international market in the past 15 days and foreign exchange rate. These revisions become effective from 6am in the morning every day.

GLOBAL OIL PRICES

Oil prices rose on Friday on continued supply constraints from the US but were headed for a flat finish on the week as coal and gas prices eased, curbing fuel-switching which had stoked demand for oil products for power.

Oil and gas market reached multi-year highs earlier this week due to apprehensions on coal and gas shortages in China, India and Europe. “Weaker natural gas and coal prices would have taken away some of the support for the oil market,” ING commodities strategists said in a note.

While Brent crude went up 24 cents or 0.3 per cent to $84.85 per barrel, US West Texas Intermediate (WTI) climbed 20 cents or 0.2 per cent to $82.70 per barrel.

Also read: Fuel rates today: Petrol costs 33% more than ATF in Delhi; reaches Rs 115.27 per litre in Bhopal

Also read: Fuel prices today: Petrol crosses Rs 106 per litre in Delhi, Rs 112 per litre in Mumbai