Lagatar24 Desk
New Delhi, Oct.8: Petrol and diesel prices were raised for the fourth day in a row on Friday. According to Indian Oil Corporation, petrol prices in Delhi have been raised by 30 paise from Rs 103.24 per litre to Rs 103.54 per litre, and diesel prices have been raised by 35 paise from Rs 91.77 per litre to Rs 92.12 per litre. The updated petrol price in Mumbai is 109.54 per litre, while the diesel price is 99.22 per litre. Because of the value-added tax, or VAT, fuel prices vary by state.
| City | Petrol | Diesel |
| Delhi | 103.54 | 92.12 |
| Mumbai | 109.54 | 99.22 |
| Chennai | 101.01 | 96.60 |
| Kolkata | 104.23 | 95.23 |
| Source: Indian Oil | ||
State-run oil refineries such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum adjust fuel prices on a daily basis, based on worldwide crude oil prices and rupee-dollar exchange rates. Every day at 6 a.m., any adjustments in petrol and diesel prices take effect.
Meanwhile, oil futures rebounded on Thursday, indicating that the market believes it is unlikely that the US will release emergency crude stockpiles or impose export restrictions to alleviate supply shortages.
Brent futures jumped 87 cents, or 1.1 percent, to $81.95 per barrel, while US crude rose 87 cents, or 1.1 percent, to $78.30 per barrel.
