Petrol, diesel prices at record high again

New Delhi: Fuel prices jumped on Wednesday, October 20, to hit fresh all-time highs following a surge in global crude oil rates. In the national capital, petrol and diesel rates soared 35 paise to cost Rs 106.19 and Rs 94.92 per litre respectively, according to Indian Oil Corporation.

Meanwhile, the price of petrol and diesel in Mumbai rose to 112.11 per litre and Rs 102.89 a litre respectively, according to a price notification of state-owned fuel retailers.

The fuel prices remained static on Monday and Tuesday, but had risen for four straight days by 35 paise per litre each before (October 13-16. There was no change in rates on October 12 and 13.

With this rise, petrol is now at ₹100-a-litre mark or more in all state capitals while diesel has touched the level in over a dozen states. Diesel crossed the ₹100-a-litre mark in Panaji and Ranchi.

The costliest fuel is in the border town of Ganganagar in Rajasthan where petrol comes for ₹118.23 a litre and diesel for ₹109.04.

Since ending of a three-week long hiatus in rate revision in the last week of September, this is the 17th increase in petrol price and the 20th time that diesel rates have gone up.With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.

Crude prices have been on a surge rising over a three-year high level of over $ 85 a barrel now. It had softened a bit falling below $ 85 a barrel now. Since September 5, when both petrol and diesel prices were revised, the prices of both in the international market was higher by around $9-10 per barrel as compared to average prices during August.