Fuel Prices Surge Again, Petrol Rate Reaches 89.97 Rupees In Mumbai: 10 Things To Know
Petrol and diesel prices scaled new peaks on Sunday as oil marketing companies (OMCs) raised the fuel rates across four metro cities. According to a price notification of state-owned fuel retailers, petrol prices in Delhi were increased by 17 paise per litre and diesel were hiked by 10 paise per litre on Sunday. The cost of petrol inched closer to Rs 90-per-litre mark in Mumbai. Fuel rates vary from city to city and from pump to pump depending on local taxes and transportation cost.
Here are key things to know about petrol prices, diesel rates:
1. In Delhi, petrol was retailed at Rs. 82.61 per litre on Sunday. In Mumbai, petrol was sold at Rs. 89.97 per litre. A litre of petrol was purchased at a price of Rs. 85.87 in Chennai and Rs. 84.44 in Kolkata.
2. The revised price of diesel in Delhi stood at Rs 73.97 per litre. Diesel was being sold at Rs.78.53 per litre in Mumbai, Rs.78.20 per litre in Chennai and Rs. 75.82 per litre in Kolkata on Sunday.
3. On Saturday, petrol prices were increased by the OMCs across four metro cities. However, diesel rates were kept stagnant on Saturday.
4. The continuous rise in transportation fuel prices has been in tandem with the increase in crude oil prices.Â
5. A combination of a dip in rupee value against the US dollar and rise in crude oil prices lead to a spike in pump prices.Â
6. Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes.
7. Mumbai has the highest sales tax or value added tax (VAT).Â
8. Globally, OPEC (Organization of the Petroleum Exporting Countries) and its allies reduced oil output in August as a drop in Iranian supply due to US sanctions derailed their attempts to raise production to agreed levels, reported Reuters.
9. The development further raises pressure on the OPEC to boost supply amid calls from US President Donald Trump to lower oil prices.
10. Oil reached $80 a barrel this month, prompting Trump to demand again that OPEC bring down prices. (With agencies inputs)
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
