Petrol, Diesel Price Today: There was no change in fuel prices on Monday, October 18, after increasing rates for a period of four consecutive days. According to the Indian Oil Corporation, the rates of petrol and diesel in the national capital were Rs 105.84 and Rs 94.57 per liter respectively.
A liter of petrol now costs 33 per cent more than the price at which aviation turbine fuel (ATF or jet fuel) is sold to airlines. The price of ATF in Delhi is Rs 79,020.16 per kilo liter or roughly Rs 79 per litre.
In Mumbai, a liter of petrol now costs Rs 111.77 and diesel Rs 102.52 per litre. Petrol price crossed Rs 103 per liter in Chennai and is currently selling at Rs 103.01 per litre. Of the four metro cities, Mumbai has the highest fuel rates, according to state-run oil refiners. Fuel rates vary from state to state due to Value Added Tax or VAT. (Too Reading: How to check latest petrol and diesel rates in your city).
Petrol and diesel prices in metro cities are as follows:
State-run oil refiners like Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel rates on a daily basis, taking into account crude oil prices and rupee-dollar exchange rates in international markets. Any change in the prices of petrol and diesel is effective from 6 am every day.
Oil prices hit new multi-year peaks amid global energy shortages, with US crude hitting a seven-year high and Brent at a three-year high. US crude was up 0.92% at $83.04 a barrel, while Brent crude was up 0.57% at $85.35 a barrel.