Diesel prices cross Rs 100 per litre mark for the first time in India
After petrol prices, the diesel prices are soaring. Due to the hike in crude oil prices, the retailers have increased the price to an all-time high
The state-owned retailers in India have increased the prices of the fuel for the sixth consecutive day this month. After the price of petrol crossed the Rs 100 per litre mark several weeks ago, the price of diesel fuel has now crossed the three-digit figure. The prices are expected to increase further in the coming the weeks.
The fuel prices across India are at an all-time high. After a pause in the hike of fuel prices, the oil companies have started raising the prices again recently. For the first time ever, the price of diesel fuel has crossed the Rs 100 per litre mark in many cities.
After weeks of petrol price crossing the Rs 100 mark in several cities across the country, the diesel prices are now soaring and crossing the three-digit figure. On Saturday, the diesel price crossed the Rs 100 per litre mark for the first time in Mumbai. In other cities like Gandhinagar, Gujarat and Leh, Ladakh, the diesel prices have now crossed the Rs 100 per litre barrier.
The state-owned fuel retailers increased the price of petrol by 30 paise and diesel by 35 paise per litre. This is the sixth consecutive day of price hikes by the fuel retailers.
In national capital Delhi, the price of petrol is now Rs 104.14 per litre, the higher ever recorded price. While in Mumbai, the retailers sell petrol at Rs 110.12 per litre.
In Mumbai, diesel now costs Rs 100.66 per litre and in Delhi, it costs Rs 92.82 per litre. The state-owned retailers started hiking the prices of the fuel again and transferring the cost to the consumers.
For five days in a row, the price of petrol received a hike of 30 paise a litre and diesel by 35 paise per month. Before that, the retailers hiked the price of petrol by Rs 25 paise and diesel by 30 paise.
International prices are soaring
After the decision by OPEC+ to not increase the output by more than 0.4 barrels per day, the crude oil prices became extensively high. A month ago, the international benchmark of Brent crude oil was 72 USD and it has now become around 82 USD.
Since India is a major importer of oil, the international crude oil prices affect the cost of the diesel and petrol sold by the retailers.