Petrol Price Hiked for 4th Day, Hits Rs 111.77 in Mumbai. Know Petrol

Petrol and diesel prices rose across the country for the fourth straight day on Sunday, October 17. Petrol has become costlier by 34-35 paise while diesel has become expensive by 35-37 paise on Sunday. This was the 15th increase in petrol price and the 18th time that diesel rates since the last week of September.

After the latest price hike, petrol price climbed to Rs 105.84 a litre in the national capital, highest ever. The petrol price increased to Rs 111.77 a litre in the financial capital. Earlier in May, Mumbai became the first metro city in the country where petrol price had touched Rs 100 per litre. Petrol was being sold at Rs 106.43 in Kolkata and Rs 103.01 in Chennai.

Diesel price also followed the similar trend on October 17. Diesel price rose to Rs 94.57 per litre in the national capital. In Mumbai, diesel price jumped to Rs 102.52 per litre after the latest hike. A litre of diesel retailed at Rs 97.68 in Kolkata and Rs 98.92 in Chennai.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. The Union government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 on diesel. The rates of petrol and diesel in India are affected by Brent crude oil. As India is a net importer of oil, the rates of petrol and diesel in the country are equivalent to international prices.

You can check the fuel rates of your city via an SMS now. As mentioned on the website of Indian oil, type RSP together and your city’s code, send it to the number – 9224992249. For figuring out the unique codes, you can check the website of IOCL.