Lagatar24 Desk
New Delhi, Oct.18: After being hiked for four days in a row, fuel prices remained steady on Monday, October 18. According to Indian Oil Corporation, petrol and diesel prices in the national capital were Rs.105.84 and Rs.94.57 per litre, respectively.
A litre of petrol currently costs 33% more than aircraft turbine fuel (ATF or jet fuel), which is sold to airlines. ATF costs 79,020.16 per kilolitre in Delhi, or about Rs.79 per litre.
In Mumbai, a litre of petrol costs Rs.111.77, while diesel costs Rs.102.52.
Petrol prices in Chennai have now surpassed the Rs.103 milestone, with a current price of Rs.103.01 per litre. According to the state-run oil refiner, Mumbai has the highest fuel prices of the four metro cities. Because of the value-added tax, or VAT, fuel prices vary by state.
|
City |
Petrol |
Diesel |
| Delhi | 105.84 | 94.57 |
| Mumbai | 111.77 | 102.52 |
| Chennai | 103.01 | 98.92 |
| Kolkata | 106.43 | 97.68 |
|
Source: Indian Oil |
||
State-run oil refineries such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum adjust fuel prices on a daily basis, taking into account international crude oil prices and rupee-dollar exchange rates. Every day at 6 a.m., any adjustments in gasoline and diesel prices take effect.
Oil prices continued their recent rise amid a worldwide energy deficit, with U.S. crude hitting a record seven-year high and Brent hitting a three-year high. Last week, U.S. crude rose 0.92 percent to $83.04 per barrel, while Brent crude rose 0.57 percent to $85.35 per barrel.
