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Petrol crosses Rs 114 per litre in Mumbai; check latest rates here

Petrol crosses Rs 114 per litre in Mumbai; check latest rates here

Fuel rates were last revised on October 27. Petrol and diesel prices were kept unchanged on October 26 and October 25.

BusinessToday.In
  • Updated Oct 28, 2021 9:23 AM IST
Petrol crosses Rs 114 per litre in Mumbai; check latest rates herePetrol has crossed the Rs 114 per litre mark in Mumbai

Petrol and diesel rates have been hiked by 35 paise for the second consecutive day. Fuel rates were last revised on October 27. Petrol and diesel prices were kept unchanged on October 26 and October 25.

After the recent revision in prices, petrol has crossed Rs 108 per litre in the national capital. Petrol is selling for Rs 108.29 per litre and diesel is priced at Rs 97.02 per litre in Delhi.

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Petrol costs 37.03 per cent more than aviation turbine fuel (ATF) sold to airlines in Delhi. ATF sells at Rs 79,020.16 per kilo litre or around Rs 79 per litre in the national capital.

Petrol has crossed the Rs 114 per litre mark in Mumbai and currently is selling at Rs 114.14 per litre in India’s financial capital. Diesel, on the other hand, costs Rs 105.12 per litre in Mumbai. Petrol is priced at Rs 108.78 per litre and Rs 105.13 per litre in Kolkata and Chennai respectively. Diesel costs Rs 100.14 per litre in Kolkata and Rs 101.25 per litre in Chennai.

Fuel is the costliest in Bhopal and Jaipur among the major metro cities in India. Petrol is inching closer towards the Rs 117 per litre mark in Bhopal and currently sells for Rs 116.93 per litre. Diesel costs Rs 106.38 per litre in Madhya Pradesh’s capital city. Petrol and diesel cost Rs 115.57 per litre and Rs 106.85 per litre in Jaipur respectively.

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PETROL, DIESEL PRICES ACROSS MAJOR INDIAN CITIES ON OCTOBER 28, 2021 (THURSDAY)

Total rise in petrol prices since May 5, 2020 is currently at Rs 36.33 per litre whereas diesel rates have gone up by Rs 26.93 per litre. Government decided to raise excise duty on petrol and diesel to mop up gains that would have otherwise been passed onto consumers with international oil prices going down to $19 per barrel. Excise duty on petrol has remained at Rs 32.90 per litre and Rs 31.80 per litre on diesel despite international oil prices recovering to $85 per barrel.

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Oil marketing companies – Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) revise petrol and diesel prices on a daily basis by taking into account 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 in fuel prices are effective from 6am every morning.

GLOBAL OIL PRICES

Oil prices dropped on a surprise jump in US crude inventories. Crude stocks rose by 4.3 million barrels last week, the US Energy Department said. The ‘hefty’ stock rise came “on the back of a large jump in net imports of crude oil and still sluggish refinery processing,” Citi Research commodities analysts said in a note. While Brent crude went down by $1.36 or 1.6 per cent to $83.22 per barrel, US West Texas Intermediate (WTI) fell $1.28 or 1.6 per cent to $81.38 per barrel, Reuters reported.
 
Also read: Petrol, diesel prices rise after two-day pause; check latest fuel rates here

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

Published on: Oct 28, 2021 8:48 AM IST
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