Petrol, diesel prices start rising again

By Ramesh Kumar 30-Sep-2019

Petrol and diesel prices are up again- petrol by 7-8 paise, according to data from Indian Oil Corporation NSE 0.17%. Petrol is selling at Rs. 74.43 a litre, while diesel price rose to Rs 67.33 a litre in Delhi on Monday even as international crude oil prices stabilised after the drone attack on Saudi oil facilities earlier this month.

Petrol prices rose to Rs 77.10 a litre in Kolkata, Rs 80.08 a litre in Mumbai and Rs 77.36 a litre in Chennai.
Petrol price has gone up by Rs 2.25 a litre while that of diesel by Rs 1.75 a litre since September 17 after the drone attacks on Saudi oil facilities on September 13.
 
Within a day of the one-off excise duty cut and PSUs subsidizing fuel, petrol and diesel prices are on the rise again and have hit a three-week high. But the prices were on the rise from the very next day. Petrol price was hiked by 18 paise a litre on October 6, 14 paise on Sunday and 21 paise on Monday, according to daily price notification issued by state-owned oil firms.
The fuel prices are revised on a daily basis in India. When international crude oil prices rise, prices in India also go up. Other factors like rupee to US dollar exchange rate, cost of crude oil, global cues and demand also impact the price of fuel.