Petrol price at record high, diesel rate crosses Rs 100-mark in several states

Petrol and diesel prices were today hiked simultaneously for the fourth consecutive occasion across the country. Oil marketing companies' decision to increase the fuel rates came in line with the spurt in international oil prices with benchmark Brent crude was hovering at USD 81.95 per barrel.

Petrol price in Delhi has been hiked by 30 paise to Rs 103.54 per litre. Diesel rate has gone up by 35 paise to Rs 92.12 a litre. In Mumbai, petrol will cost you Rs 109.54 per litre and diesel price is Rs 99.22 a litre.

In Chennai, petrol price is Rs 101.01 per litre and diesel rate is Rs 96.60 a litre. Petrol price in Kolkata is Rs 104.23 per litre and diesel rate is Rs 95.23 a litre.

The increase has pushed the petrol and diesel rates to a new record high.

Petrol crossed the Rs 100-a-litre mark in Lucknow and Gandhinagar – the last of the handful of state capitals that had rates less than that, as per a PTI report.

Petrol prices, which is dictated by the incidence of local taxes and freight, had already crossed the Rs 100 mark in several places in Uttar Pradesh and Gujarat, the PTI report says.

Meanwhile, diesel price has already crossed the Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana, as per the PTI report.

State-owned fuel retailers have in the past few days resorted to modest increases to align domestic rates with cost. But with international benchmark Brent crude crossing USD 81 per barrel after the decision by OPEC+ not to increase output more than 0.4 million barrels per day, fuel rates are being increased by a larger proportion. Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices, according to report