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Diesel crosses Rs 100 per liter in Kerala, Karnataka

Diesel price crossed the Rs 100 per liter mark in Kerala and Karnataka on Monday as fuel prices were hiked again to align domestic rates with firming international oil prices.

According to the price notification of the state-owned fuel retailers, the price of petrol was hiked by 30 paise per liter and diesel by 35 paise per liter.

The seventh straight day of price hikes pushed fuel rates to a new record high.

In the notification, the price of petrol reached an all-time high of Rs 104.44 per liter in Delhi and Rs 110.41 per liter in Mumbai.

In Mumbai, diesel now comes for Rs 101.03 per litre; While its price in Delhi is Rs 93.17.

While petrol prices are already above Rs 100 a liter in most parts of the country, diesel rates have crossed that level in several states, with Kerala and Karnataka being the latest.

Diesel price in Thiruvananthapuram is Rs 100.15 per litre.

Some cities of Karnataka including Shimoga and Davangere also witnessed this level on Monday. However, diesel comes to Rs 98.85 per liter in Bangalore.

Apart from Kerala and Karnataka, diesel has crossed the Rs 100 per liter mark in Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chhattisgarh, Madhya Pradesh, Rajasthan, Bihar and Leh.

Prices vary from state to state depending on the incidence of local taxes.

Barring a minor price change policy, state-owned fuel retailers have started passing on major cost events to consumers from October 6.

Petrol price has been hiked by 30 paise per liter and diesel by 35 paise for six consecutive days, marking the biggest rally in rates. Earlier, the price of petrol was increased by 25 paise and diesel by 30 paise.

This is because international benchmark Brent crude has hit a seven-year high of more than US$80 a barrel, as producer cartel OPEC+ decided not to increase production by more than 0.4 million barrels per day.

A month ago, Brent was around $72 a barrel.

Being a net importer of oil, India keeps petrol and diesel prices at par with international prices.

 

The jump in international oil prices ended a three-week hiatus in rates for petrol on September 28 and diesel on September 24.

Since then the price of diesel has increased by Rs 4.35 per liter and that of petrol by Rs 3.25.

Before the cut in July/August prices, the price of petrol was increased by Rs 11.44 per liter between May 4 and July 17. During this, the price of diesel had increased by Rs 9.14.

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