Petrol and Diesel price hike within the country, sets a new record and checks the rates in your city

Petrol and Diesel News

The hike in the petrol prices is nothing new since the past few months, and today on October 3rd India set a new record as the petrol price took a leap from 21 to 30 paise per liter, while the diesel prices climbed from 29 paise to 32 paise per liter. The increase in the rate of international oil prices has led to petrol and diesel to reach a new height within the country.

According to the data which is released by the state run oil companies provides a confirmation that the prices of petrol has touched new heights from21 paise to 30 paise, whereas the prices of diesel has taken a leap  from 29 paise to 32 paise. Following this data the price of petrol has risen to Rs. 102.39 per litre, in the country’s capital New Delhi and Rs. 108.43 Mumbai, whereas the hike in the diesel price has been recorded a new height with Rs. 90.77 per Litre in Delhi and Rs. 98.48 in Mumbai. With this new hike in the prices of Petrol and Diesel, has also resulted to push the prices of the petrol to Rs. 100 in several major cities including Chennai,

The capital of Tamilnadu where the price of one liter petrol costs 100.01 per litre and the price of the diesel has been estimated and has been further reduced to Rs. 95.31 per litre. The petrol price in West Bengal's capital Kolkata has reached Rs.103 per litre, and the cost of the Diesel has reached Rs. 93.87 per litre. With this data the prices of the petrol and diesel has been rising consecutively, since the past ten days in the states like Rajasthan, Madhyapradesh, Orissa, Telangana, Andhra Pradesh as well with day by day setting new hike in the prices of Petrol and Diesel. 

The Brent Crude has set a global benchmark and is currently selling at $78 for a single Barrel. After the international oil prices have approached a three year high since September 24, the state owned IOC, BPCL, and HPCL have commended their price on the daily reservations. As India relies on imports for approximately 85% of its oil demands, and therefore the fuel prices are thus based on the worldwide oil prices. In July and August when the worldwide oil prices decreased to a level, the retail prices of petrol and diesel were reduced by RS0.65 to 1.25 per litre, according to the Delhi market.                      

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