Petrol, Diesel Prices Hiked For Third Day. Petrol Crosses Rs 109-Mark In Mumbai

Petrol, Diesel Prices Today: Petrol and diesel prices have been hiked for the third consecutive day on Thursday i.e. October 7. In Delhi, petrol price crossed the Rs 103-mark, increasing by 30 paise from Rs 102.94 per litre to Rs 103.24 per litre and diesel rates were hiked by 35 paise from Rs 91.42 per litre to Rs 91.77 per litre, according to Indian Oil Corporation. In Mumbai, petrol prices crossed the Rs 109-mark - and the revised petrol price now stands at Rs 108.96 per litre and diesel is Rs 99.17 per litre. Fuel rates vary across states due to the value-added tax or  VAT. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City). 

Here are the petrol and diesel price across the metro cities:

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.  

U.S. crude slid 0.43 per cent, or 33 cents, to $77.10 a barrel after the market climbed on Wednesday to $79.78 - the highest since November 2014, according to news agency Reuters. Brent crude 2 cents, to $81.06 a barrel.

Global oil prices have surged more than 50 per cent this year, adding to the inflationary pressure that could slow recovery from COVID-19 and impact consumer demand.