Petrol, Diesel prices today: Fuel rates hiked for fifth consecutive day.

The prices of petrol and diesel were hiked for the fifth consecutive day by 35 paise per litre each across the country on Sunday, October 24, 2021.

Petrol and diesel prices were hiked for the fifth day in a row on Sunday.
Today , prices of petrol and diesel soared to new record highs across the country after the rates were hiked for the fifth consecutive day. The state-run oil marketing companies (OMCs) have increased the fuel rates by 35 paise per litre each on yesterday October 23, 3021. The fuel rates have touched record new levels across the country, Squeeze the common man’s pocket.

The latest price of petrol retailing at Rs 107.59 per litre in Delhi and The cost of diesel stands at Rs 96.32 per litre .

The financial hub of India i.e Mumbai, the price of petrol has crossed the Rs 113 litre mark and is available at Rs 113.46 per litre and Diesel costs Rs 104.38 per litre in Mumbai today.

In Chennai, people have to shell out Rs 104.52 for a litre of petrol and diesel is retailing at Rs 100.59 per litre.

In Kolkata, the prices of petrol and diesel stand at Rs 108.11 and Rs 99.43 per litre, respectively on today October 24 2021.

According to experts, the rising fuel prices are not going to come down soon as, in the international market, the rate of crude oil is trading at $90 per barrel. The government is in talks with various oil-exporting companies on the issue of demand and supply of oil but there is no chance of immediate relief.

Fuel rates vary from state to state and also in cities, depending on the incidence of local taxes like value-added tax (VAT) and freight charges. According to reports, Rajasthan levies the highest VAT in the country, followed by Maharashtra and Madhya Pradesh.

The prices of petrol and diesel were hiked multiple times in October . While petrol has breached price above Rs 100-per litre mark in major Indian cities, diesel rates have also touched a new record .

Fuel prices are revised by OMC( oil  marketing companies)  like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on international prices in the preceding 15 days and foreign stock exchanges.

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