Petrol, diesel prices at all-time high after remaining stable for 2 days

Lagatar24 Desk

New Delhi, Oct.20: State-run oil marketing corporations (OMCs) raised petrol prices after a two-day gap as global crude oil prices continue to rise. On Wednesday, the price of petrol and diesel has been increased by 35 paise each.

After the new surge, petrol is now selling for above Rs 106 per litre in Delhi, and it has surpassed Rs 112 per litre in Mumbai. In Kolkata, it costs about Rs 107 per litre, while in Chennai, petrol costs more than Rs 103 per litre. There are hardly any major cities left where petrol costs less than Rs 100 per litre.

Diesel prices have risen in the last few days in a similar fashion. In the national capital, it costs nearly Rs 95 per litre, while in Mumbai, diesel costs over Rs 103 per litre. In Kolkata, diesel costs Rs 98 per litre, whereas in Chennai, it costs more than Rs 99 per litre.

Fuel costs have risen dramatically at a time when global crude oil prices are fast rising due to increased demand and limited supply. According to a previous study, benchmark Brent crude oil might reach $90 per barrel by December, causing domestic fuel costs to soar even more.

Petrol and Diesel rates in major Indian cities:

It should be emphasised that fuel prices in the country have never been so high, and experts are concerned that this would have a negative influence on economic recovery. This is due to the fact that the price of gasoline and diesel has a direct impact on the price of a variety of other vital and non-essential commodities.