Fuel Prices Remain Unchanged After Seven Straight Hikes

After seven straight increases in fuel costs, petrol and diesel prices remained steady on October 12 (Tuesday). On Monday, petrol prices increased by 30 paise, while diesel prices increased by 35-37 paise. On October 5, the fuel rates were last maintained at the same level.

Meanwhile, diesel prices in Kerala and Karnataka surpassed $100 per litre on Monday, as gasoline prices were increased again to align domestic rates with firming international oil prices.

According to the announcement, the price of petrol in Delhi reached an all-time high of 104.44 per litre, while in Mumbai it reached 110.41 per litre.

Diesel now costs 103.03 rupees a litre in Mumbai, and 93.17 rupees in Delhi.

While petrol prices have already surpassed the 100-per-liter mark in most parts of the country, diesel prices have surpassed that figure in a number of states, the most recent of which are Kerala and Karnataka.

On Tuesday, oil prices declined for the first time in four days, following weeks of increased global demand. US oil slid 33 cents or 0.4 percent to $80.19 per barrel, while Brent crude down 26 cents or 0.3 percent to $83.39 per barrel.

Apart from Kerala and Karnataka, diesel prices in Odisha, Andhra Pradesh, Telengana, Gujarat, Maharashtra, Chattisgarh, Madhya Pradesh, Rajasthan, Bihar, and Leh have all surpassed $100 per litre.

Because India is a net importer of oil, it charges world prices for gasoline and diesel.

On September 28 for petrol and September 24 for diesel, a three-week respite in rates was broken by a spike in worldwide oil prices.