Petrol rates hiked after 22 days, diesel becomes costlier for fourth straight day

Petrol, Diesel Price Today: Petrol prices have been hiked after a gap of 22 days and diesel rates have been increased for the fourth consecutive day across the four metros on Tuesday, as international oil prices soared to a three-year high.

In the national capital, petrol prices were increased by 20 paise from ₹ 101.19 per litre to ₹ 101.39 per litre, whereas diesel has become dearer by 25 paise from ₹ 89.32 per litre to ₹ 89.57 per litre, according to Indian Oil Corporation. In Mumbai, the revised price of petrol is ₹ 107.47 per litre and diesel is priced at ₹ 97.21 per litre.

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.

Here are the petrol and diesel price across the metro cities:

City Petrol Diesel

Delhi 101.39 89.57

Mumbai 107.47 97.21

Chennai 99.15 94.17

Kolkata 101.87 92.67

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 international markets as well as the rupee-dollar exchange rates. Any changes in petrol, diesel prices are implemented with effect from 6 am every day.

Meanwhile, oil prices gained on Monday for a fifth straight day, with brent at its highest since October 2018 and heading for $80, as investors fretted about tighter supplies because of rising demand in parts of the world.

Brent crude was up $1.44, or 1.8 per cent to settle at $79.53 a barrel, having posted three straight weeks of gains. U.S. crude futures rose $1.47, or 2 per cent, to settle at $75.45 a barrel, its highest since July.