Price of automobile fuels continue to be at record highs in most cities, with Indian Oil Corp Ltd (IOC) raising the price of petrol by 11 paise per litre and that of diesel by 5 paise per litre in Delhi, with corresponding changes in other states on September 24, according to information available on the website of the country’s largest fuel retailer. The rise in prices has been attributed to a depreciating rupee and the rising prices of crude oil. A litre of diesel costs 74.02 rupees in Delhi, 78.58 rupees in Mumbai, 75.87 rupees in Kolkata, and 78.26 rupees in Chennai.
The rise in prices has been attributed to a depreciating rupee and the rising prices of crude oil.
The other two state-owned fuel retailers — Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd — follow IOC in fuel price revisions. India is the second-largest importer of crude oil and rising global oil prices are inflating domestic transport fuel costs in a high-demand environment.
According to oil companies, refinery gate price of petrol, without considering any central or state tax and dealer’s commission, is Rs 42.04 per litre. The same for diesel is Rs 45.34. The retail rates are arrived at after the addition a number of taxes and costs.