According to a price notification from state-owned fuel merchants, petrol and diesel prices were raised across metros on October 14. Petrol now costs Rs 104.79 a litre in Delhi, up from Rs 104.44 previously. On October 14, diesel prices reached a new high of Rs 93.52 a litre. Petrol prices in Mumbai reached a new all-time high of Rs 110.75 per litre. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre. In Maharashtra’s capital, the price of diesel increased to Rs 101.40 a litre. In Kolkata, too, gasoline prices have risen, with a litre of petrol and diesel now costing Rs 105.43 and Rs 96.63, respectively. People in Chennai must pay Rs 102.10 for a gallon of petrol, but this costs Rs 97.93 in Tamil Nadu’s capital.The impact of local taxes on the price of gasoline and diesel varies from state to state. State-owned fuel retailers have begun passing on the greater incidence of cost to consumers, abandoning their mild price change strategy. Because the international benchmark Brent crude has risen to above USD 82 per barrel as a result of OPEC+’s resolution not to increase output by more than 0.4 million barrels per day, fuel prices have risen by a greater percentage.
