Tuesday came as another day of relief for consumers as the fuel rates remained constant for the 2nd consecutive day.
The petrol and diesel prices had spiked to historic highs after the constant hikes in the fuel prices in the past couple of months. The unchanged fuel price in the national capital Delhi is Rs 107.59 a litre for petrol and Rs 96.32 for diesel as per the price notification of state-owned fuel retailers.
The fuel prices in Mumbai also did not witness any spike and remained at Rs 113.46 per litre for petrol and Rs 104.48 a litre for diesel. This is by far the highest fuel rate compared to all metros.
Petrol and diesel prices remained constant on October 18 and 19 but it witnessed a hike for four consecutive days thereafter. After the continuos price rise between October 20 to 24, it was paused on October 25.
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Diesel prices have now increased on 24 out of the last 31 days, taking up its retail price by Rs 7.80 per litre in Delhi.
Due to the sharp hike, 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 its pump prices last week.
The rates increased on 21 of the previous 27 days taking up the pump price of petrol by Rs 6.40 per litre.
Crude price has been on a surge rising over a three-year high level of over $86 a barrel as global demand remains firm while OPEC+ continues to move s lowly on increasing production.
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Since September 5, 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.
