Fuel prices hiked again

Surprisingly, petrol now costs nearly 35 per cent more than the price of the aviation turbine fuel

The petrol and diesel prices continue to rise for the second straight day. The prices hit fresh all-time highs after following a surge in global crude oil rates.

 

In Delhi, the petrol and diesel rates increased by 35 paise and now costs Rs 106.54 and Rs 95.27 per litre respectively after the latest hike.

 

Surprisingly, petrol now costs nearly 35 per cent more than the price of the aviation turbine fuel (ATF) or also known as jet fuel, sold to airlines. ATF in Delhi costs roughly Rs 79 per litre.

 

In the commercial capital of India, a litre of petrol now costs Rs 112.44, and diesel is sold at Rs 103.26 per litre. Petrol prices in Chennai reached Rs 103.61 per litre; while diesel rates stood at Rs 99.59. The fuel rates are the highest in Mumbai, as per the state-run oil refiner. In Kolkata, petrol costs 107.12 while diesel costs 98.38. The fuel rates vary significantly across the states due to value-added tax.

 

The State-run oil refiners like Bharat Petroleum, Indian Oil and Hindustan Petroleum revises the fuel rates on a daily basis, by calculating the crude oil prices in the international markets and as per the rupee-dollar exchange rates and any significant changes in petrol and diesel prices are always implemented with effect from 6 am every day.

 

Presently all over the world, oil prices climbed and were nearly multi-year highs as an energy supply crunch continues. According to reports, the Brent crude rose 0.21 per cent to $86.04 a barrel.

 

India Scanner News Network

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