Petrol price rises for seventh consecutive day

New Delhi, November 2, 2021

Oil marketing companies (OMC) raised the retail price of petrol on Tuesday but kept diesel rates unchanged.

This is the seventh consecutive day of an increase in auto fuel prices.

Accordingly, the pump price of petrol in Delhi increased by 35 paise per litre to jump to Rs 110.04 a litre, while diesel prices remained at Monday's level of Rs 98.42 a litre, according to a price notification of state-owned fuel retailers.

In the financial capital of Mumbai, petrol prices have now increased to Rs 115.84 per litre while diesel remains at Rs 106.63 a litre, the highest among all metros.

Across the country as well, petrol prices increased between 35-40 paise per litre but their retail rates varied depending on the level of local taxes on petroleum products.

The fuel prices have now increased for seven consecutive days by 35 paise per litre. Before this after holding for a couple of days, fuel prices again had risen on the previous five days by about 35 paise per litre.

Diesel prices have increased on 30 out of the last 39 days, taking up its retail price by Rs 9.90 per litre in Delhi.

With diesel price rising sharply, the fuel now costs over Rs 100 a litre in several parts of the country. It is very close to breaching the mark even in Delhi where it had climbed to Rs 98.42 a litre on Monday.

Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week and this week. They have risen on 28 of the previous 35 days, taking up its pump price by Rs 8.85 per litre.

Since September 5, when both petrol and diesel prices were revised, the prices of petrol and diesel in the international market are higher by around $ 9-10 per barrel as compared to average prices during August.

IANS