In the national capital, petrol prices have risen by 25 paisa to 102.14 a litre, while diesel prices have risen by 30 paisa to 90.47 a litre.
On Saturday, October 2, gasoline and diesel prices reached new highs after interest rates were raised for the second day in a row, while global oil prices remained near three-year highs. According to the Indian Oil Corporation in the national capital, petrol and diesel prices have risen by 25 and 30 pence, respectively, in the last year. Petrol prices have risen by Rs 101.89 per litre, while diesel prices have risen by Rs 90.17 per litre.
In Mumbai, the price of petrol and diesel has risen by 24 paise each to Rs 108.19 and Rs 98.16 per litre, respectively. According to the government-owned oil refinery, Mumbai has the highest gasoline prices of the four major metro areas. The value-added tax, or VAT, affects fuel prices in different states.
As crude oil prices fluctuate around the world and the rupee’s value fluctuates, state-run oil refineries such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum adjust fuel prices on a regular basis. The price of gasoline and diesel changes every day at 6 a.m.
Meanwhile, the rupee ended a five-session losing streak on Friday, October 1, closing 11 paisa higher at 74.12 per US dollar, tracking global currency strength against the US dollar. Brent crude futures fell 0.49 percent to $ 77.93 per barrel, the global oil benchmark.
