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Fuel prices increased for 5th straight day: Check latest rates here

In Bengaluru, petrol is available at ₹111.34 per litre and diesel at ₹102.23 and in Hyderabad, petrol is now available at ₹111.91 and diesel costs ₹105.08.
Prices differ from state to state, depending on the incidence of local taxes.(Amal KS/HT File Photo)
Published on Oct 24, 2021 08:10 AM IST
Written by Susmita Pakrasi | Edited by Avik Roy, Hindustan Times, New Delhi

Petrol and diesel prices were hiked for the fifth consecutive day across the nation on Sunday. The latest increase that follows the hike in international oil prices has pushed fuel prices across the nation to their new high.

With a hike of 0.35, the price of petrol increased to 107.59 per litre in the national capital while the price of diesel went up to 96.32 per litre with an increase of 35 paisa, too.

In Mumbai, the prices of petrol and diesel for each litre stood at 113.46 and 104.38, respectively. In Kolkata, petrol costs 108.11 while a litre of diesel fetches 99.43. Meanwhile,iIn Chennai, the price of petrol is now 104.52 and that of diesel is 100.59.

In Bengaluru, petrol is available at 111.34 per litre and diesel at 102.23 and in Hyderabad, petrol is now available at 111.91 and diesel costs 105.08.

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Prices differ from state to state, depending on the incidence of local taxes. The total increase in petrol price since May 5, 2020, decision of the government to raise excise duty to record levels now totals 35.98 per litre. The rates of diesel have during this period gone up by 26.58 per litre.

The government had raised excise duty on petrol and diesel to wipe away gains that would have otherwise accrued to consumers from international oil prices crashing to as low as $19 per barrel. While international prices have since recovered to $85, excise duty has remained at 32.9 per litre on petrol and 31.8 on diesel, reports news agency PTI.

Oil minister Hardeep Singh Puri on Friday equated demand for cutting excise duty to 'axing one's own feet', saying such levies funded government schemes to provide free Covid-19 vaccines, meals and cooking gas to millions amid the pandemic. "I think this simplistic political narrative we get in India (that), 'prices have gone up, why don't you reduce your taxes'... so every time price goes up due to something else, it says you axe your own feet in the process," he added.

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