The prices of petrol and diesel in India rose again on Thursday after a two-day pause. The cost of petrol across cities went up by 31 paise to 35 paise per litre, and diesel by 34 paise to 37 paise, The Economic Times reported.
In Delhi, a litre of petrol now costs Rs 104.79 and diesel Rs 93.52. In Mumbai, a litre of petrol is priced at Rs 110.75 and diesel at Rs 101.40.
The latest rate revision also pushed the cost of petrol in Chennai to Rs 102.10 and diesel to Rs 97.93. In Kolkata, the prices of petrol and diesel were Rs 105.44 and Rs 96.63.
The price of petrol is more than Rs 100 in most of the country and diesel costs over Rs 100 in 12 states, according to PTI.
Fuel prices vary from states to states due to different value-added tax and freight charges. Oil companies revise the fuel prices on the basis of the cost of benchmark fuel in the international market and foreign exchange rates.
India depends on imports to meet 85% of its oil needs. Thus, a rise in international oil prices directly influences national fuel rates.
International oil prices went up on Thursday amid anticipation that the increasing cost of natural gas, with the approaching winter season, would compel countries to switch to oil to fulfil their heating demands, Reuters reported.
Brent crude oil price was up 0.8% at $83.85 (Rs 6,311, approximately) at 12.17 pm, according to the news agency.
Brent is a global price benchmark for the crude oils from the Atlantic basin. It is used to set the price of two-thirds of the world’s crude oil trade supplies.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!