petrol And diesel prices The country has touched an all-time high on Friday, October 1, 2021. It comes on the back of global oil prices finding themselves at a three-year high. fuel rates The month of September was somewhat more stable and optimistic, especially after the newly elected state government cut rates by around Rs 3 in Chennai city. However, as we approached the calendar month of October, stability gave way to market volatility that leaves us in this current situation. As it is today, the price of petrol was once again increased by 22 to 30 paise across the country. Similarly, the price of diesel has also increased by about 29 to 32 paise across India.
On Friday, the price of petrol in Mumbai city was Rs 107.95 per liter after the increase. This is 24 paise more than yesterday. In the national capital Delhi, the petrol rate for the city was Rs 101.89 per liter, an increase of 25 paise. Similarly, Chennai also saw an increase in the rate of petrol, with motorists paying Rs 99.58 per liter of petrol. This was an increase of 22 paise. The price of petrol in Kolkata and Bangalore was Rs 102.47 per liter and Rs 105.44 per liter respectively. This indicated that the fuel price for Kolkata city increased by 30 paise, while for Bangalore it was increased by 27 paise.
Talking about diesel prices, motorists in Mumbai were spending Rs 97.84 per liter of diesel, which was 32 paise more than yesterday. In Delhi, things were not better as the pump rate for diesel was 30 paise more expensive at Rs 90.17 per litre. Citizens did not do well in Chennai as they had to pay a fuel price of Rs 94.74 per liter of diesel. They were essentially paying 29 paise more than yesterday. In Kolkata, diesel was priced at Rs 93.27 per litre, an increase of 30 paise from the previous price point. The price of one liter of diesel in Bengaluru city was Rs 95.70 i.e. 32 paise more than the previous price.
The price of petrol or diesel is determined by a combination of factors both nationally and internationally. At the national level, you have state government taxes and central government taxes that make up most of the price tag when it comes to the final retail price of petrol or diesel. There are also duties levied by state-owned oil companies. Now, on the international front, a major determinant of final prices is the international market sentiment for crude oil and the dollar to rupee exchange rate.
It learned that crude oil futures did not change much on Thursday as China geared up to buy more oil and other energy supplies to meet rising demand and unexpected rise in US crude inventories and a strong price pressure. was offsetting. Dollar, a Reuters report said.
On Friday, Brent futures for November delivery were down 12 cents, or 0.2 per cent, at $78.52 a barrel. On the other hand, US West Texas Intermediate (WTI) crude was up 20 cents, or 0.3 per cent, at $75.03, a Reuters report said.
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