Petrol and diesel prices remained unchanged on Monday, a day after they touched new record highs.
Accordingly, the price of petrol and diesel remains unchanged at Rs 105.84 and Rs 94.57 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer.
Across the country as well petrol and diesel prices remained static on Monday but their retail rates varied depending on the level of local taxes in a particular state.
In Mumbai, the petrol price is stable at Rs 111.77 per litre on Monday, while diesel rates also remain unchanged at Rs 102.52 a litre.
In Chennai, petrol is priced at Rs 103.01 a litre and in Kolkata Rs 106.43 a litre. Diesel is also priced at Rs 98.92 and Rs 97.68 per litre in both cities respectively.
With the last rise, petrol touched Rs 100-a-litre mark or more in all state capitals while diesel touched the 100-mark in over a dozen states.
Petrol used in two-wheelers and cars now costs 33 per cent more than the price at which aviation turbine fuel (ATF) is sold to airlines. ATF in Delhi costs Rs 79,020.16 per kilolitre or Rs 79 per litre.
The costliest fuel is in the border town of Ganganagar in Rajasthan where petrol comes for Rs 117.86 a litre and diesel for Rs 105.95. Since ending of a three-week long hiatus in rate revision in the last week of September, this is the 16th increase in petrol price and the 19th time that diesel rates have gone up.
While petrol price in most of the country is already above Rs 100-a-litre mark, diesel rates have crossed that level in over a dozen states/UT including Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chattisgarh, Bihar, Kerala, Karnataka and Ladakh.
Prices differ from state to state depending on the incidence of local taxes. Shedding the modest price change policy, state-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers.
This is because the international benchmark Brent crude is trading at USD 84.8 per barrel for the first time in seven years. A month back, Brent was trading at USD 73.51. Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices.
The surge in international oil prices ended a three-week hiatus in rates on September 28 for petrol and September 24 for diesel. Since then, diesel rates have gone up by Rs 5.95 per litre and petrol price has increased by Rs 4.65.
Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.
(With inputs from PTI)