Petrol and diesel price in India surged to new record highs across the country on Sunday after rates were hiked again by 25 paise and 30 paise per litre, respectively.
In Delhi, the petrol prices crossed the Rs 102 mark on Saturday (October 2). The rates have been hiked again and the price of petrol has reached Rs 102.39 per litre in Delhi while diesel has been hiked by 30 paise to touch Rs 90.77 per litre.
In Mumbai, fuel prices continue to be the highest among the metro cities. Petrol prices in Mumbai were hiked by 24 paise on October 3, to reach Rs 108.43 per litre while diesel prices were hiked by 32 paise to reach Rs 98.48 per litre.
In Chennai, the petrol rates crossed the Rs 100 mark after rates were increased by 21 paise to reach Rs 100.01 per litre while diesel costs Rs 95.31 following a 29 paise hike.
In Kolkata, petrol and diesel prices were hiked. However, diesel rates witnessed the highest spike by 60 paise among the four metro cities.
It is pertinent to mention that the petrol and diesel price in India vary across the states due to value-added tax or VAT.
The state-run oil refiners including Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel prices on a daily basis.
It is being done by taking into account the crude oil prices in international markets, and the rupee-dollar exchange rates.
Any changes in fuel prices get implemented with effect from 6 am every day.