Image: Unsplash/ PTI
Fuel prices have hiked for the fifth consecutive day across the country. As per the Indian Oil Corporation, petrol and diesel prices have touched new record highs on Saturday, October 9. Petrol prices were hiked by 30 paise from Rs 103.54 per litre to Rs 103.84 per litre in Delhi, while diesel rates were hiked by 35 paise from Rs 90.12 to Rs 90.47. Meanwhile, the price hike today saw diesel prices in Mumbai cross the Rs 100 mark.
In Mumbai, the petrol prices inched closer to Rs 110 mark, after it was hiked by 29 paise. The diesel price hike in the city saw the price cross the Rs 100 mark and reach Rs 100.29 per litre. Fuel rates in Mumbai remain the highest among the metros. Check out the fuel prices.
Petrol price: Rs 109.83 per litre
Diesel price: Rs 100.29 per litre
Petrol price: Rs 103.84 per litre
Diesel price: Rs 92.47 per litre
Petrol price: Rs 101.27 per litre
Diesel price: Rs 96.93 per litre
Petrol price: Rs 107.46 per litre
Diesel price: Rs 98.15 per litre
Petrol price: Rs 104.52 per litre
Diesel price: Rs 95.58 per litre
Petrol price: Rs 108.02 per litre
Diesel price: Rs 100.89 per litre
Petrol price: Rs 106.59 per litre
Diesel price: Rs 98.65 per litre
Petrol: Rs 100.89 per litre
Diesel: Rs 92.90 per litre
Petrol: Rs 105.79 per litre
Diesel: Rs 99.09 per litre
In another update, oil marketing companies have increased the price of domestic LPG cylinders by Rs 15 per cylinder. In Delhi, the price of a non-subsidised 14.2 kg cylinder costs Rs 899.50. While 5 kg cylinder price stands at Rs 502. The exchange rate of the rupee against the dollar and the global benchmark rate are the two main factors that influence the LPG cylinders price in India.
India imports more than 80 per cent of its petrol and diesel. Brent crude oil has a massive effect on this. A barrel of crude oil's price fluctuates on a daily basis. Fuel prices in India are changed on a daily basis in response to changes in global crude oil prices. Import prices are rising in line with global crude oil prices. However, this is only one factor that contributes to the high retail pricing. The rest is entirely made up of taxes.