Petrol prices rise by 34-37 paise, diesel unchanged; check latest rates here

Petrol prices went up by 34-37 paise for the seventh straight day while diesel rates were kept unchanged on November 2. Fuel rates were last revised on November 1.

After the recent hike in prices, petrol crossed the Rs 110 per litre mark and currently is selling for Rs 110.04 per litre in Delhi. Diesel continues to sell for Rs 98.42 per litre in the national capital. Petrol in Delhi now costs 33.22 per cent more than aviation turbine fuel (ATF) sold to airlines. ATF is being sold for Rs 82,638.79 per kilo litre or roughly Rs 82.6 per litre.

A litre of petrol now costs Rs 115.85 whereas diesel is priced at Rs 106.62 per litre in Mumbai. Petrol is selling for Rs 106.66 per litre and diesel is available for Rs 102.59 per litre in Chennai. While petrol is available at Rs 110.49 per litre in Kolkata, diesel sells for Rs 101.56 per litre in the city.

Fuel is the costliest in Madhya Pradesh’s capital city – Bhopal. Petrol is being sold for Rs 118.83 per litre and diesel is available for Rs 107.90 per litre in the city.

PETROL, DIESEL PRICES AMONG MAJOR INDIAN CITIES ON NOVEMBER 2, 2021 (TUESDAY)

Outside metros, fuel is the costliest in Rajasthan’s Sri Ganganagar district located near the India-Pakistan border. Petrol is priced at Rs 122.70 per litre while diesel is available for Rs 113.21 per litre in the district. Petrol is being sold for 121.81 per litre and diesel is priced at Rs 110.66 per litre in Madhya Pradesh’s Annupur.

State-backed oil marketing companies revise fuel prices daily by factoring in the value-added tax (VAT) levied on fuel by different states, freight charges, average price of the benchmark fuel in the international market in the past 15 days and foreign exchange rate. These revisions become effective from 6am every morning.

GLOBAL OIL PRICES

Oil prices went up on Tuesday as OPEC undershot its expected pace of output increases last month while China ramped up operating rates to meet a spike in diesel demand. Brent crude futures went up by 28 cents or 0.3 per cent to $84.99 per barrel whereas US West Texas Intermediate (WTI) crude futures rose by 19 cents or 0.2 per cent to $84.24 per barrel, Reuters reported.

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Also read: Petrol price crosses Rs 121 per litre mark in border district of MP, diesel touches Rs 110.29 per litre