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Petrol, diesel prices rise on hold for 2nd consecutive day
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Top Stories |
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SME Times News Bureau | 13 Oct, 2021
Petrol and diesel price rise remained paused again on Wednesday much to
the relief of consumers faced with an unprecedented increase in auto
fuel prices for the past one month that has taken retail rates to record
high levels across the country.
Accordingly, in the national
capital, petrol continues to be sold at Rs 104.44 per litre and diesel
at Rs 93.17 per litre, the same levels as Tuesday.
In India's
financial capital, Mumbai, where petrol became costlier by 29 paise per
litre on Monday, the retail rates remain static at Rs 110.41 on
Wednesday, the highest across all the four metro cities. Diesel also
costs Rs 101.03 for one litre in Mumbai.
The price pause on
Wednesday has come after fuel prices rose consistently for the past
seven days taking the rates to all-time high levels. The prices of
petrol and diesel remained steady on October 4, but saw a hike after
that.
Diesel prices have increased on 15 out of the last 19 days
before the pause taking up the retail price by Rs 4.55 per litre in
Delhi. The price of diesel has increased between 20-30 paise per litre
so far, but, since Wednesday last week it has been increasing by 35
paise per litre.
With diesel price rising sharply, the fuel is
now available at over Rs 100 a litre in several parts of the country.
This dubious distinction was earlier available to petrol that had
crossed Rs 100 a litre-mark across the country a few months earlier.
Petrol
prices had maintained stability since September 5, but oil companies
finally raised the pump prices last week. Petrol prices have also risen
on 12 of the previous 15 days taking up its pump price by Rs 3.25 per
litre.
OMCs had preferred to maintain their watch prices on
global oil situation before making any revision in prices. This is the
reason why petrol prices were not revised for the last three weeks. But
extreme volatility in global oil price movement has now pushed OMCs to
effect the increase.
Crude price has been on a surge rising over
three year high level of over $ 83.5 a barrel now. Since September 5,
when both petrol and diesel prices were revised, the price of petrol and
diesel in the international market is higher by around $9-10 per barrel
as compared to average prices during August.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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