New Delhi | Jagran Business Desk: Petrol and diesel prices on Sunday reach an all-time high in India after the rates were hiked for the fourth consecutive day by the oil marketing companies (OMCs) due to rising crude oil rates in the international market.
In Delhi, petrol now costs Rs 105.84 after a hike of 35 paise while diesel is priced at Rs 94.57 with an increase of 35 paise in prices. Similarly in Mumbai, petrol and diesel are priced at Rs 111.77 (up by 34 paise) and Rs 102.52 (up by 37 paise) respectively.
In Kolkata, petrol and diesel are priced at Rs 106.43 and Rs 97.68 respectively. In Tamil Nadu's Chennai, petrol now costs Rs 103.01 while a person would need to pay Rs 98.92 for a litre of diesel.
In Hyderabad, petrol and diesel are available for Rs 110.09 and Rs 103.08 for each litre. In Bengaluru, petrol and diesel can be purchased for Rs 109.53 and Rs 100.37 respectively.
Petrol and diesel rates, which are revised daily, are rising once again in India with the beginning of the festive season in the country due to the volatile situation in the international market.
Experts have blamed the Organisation of the Petroleum Exporting Countries' decision not to increase the output of benchmark Brent crude. Currently, international benchmark Brent crude is trading at USD 84.8 per barrel, the highest in nearly seven years.
Experts have warned that the rates would continue to rise till November due to OPEC's decision of not to increase the output. Amid this, the central government has said that it will take the necessary steps to stabilise the petrol and diesel rates in the country.
"Today, the consumption of petrol and diesel is higher by 10-15 per cent and 6-10 per cent respectively compared to pre-COVID times. I'll not go into the price issue. We continue to work towards the price stability," Union Petroleum and Natural Gas Minister Hardeep Singh Puri was quoted as saying by news agency ANI.
Posted By: Aalok Sensharma