Petrol, Diesel Rates Hiked for 4th Consecutive Day

DY365
DY365
Published: October 8,2021 01:20 PM
DY365

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Prices of petrol and diesel have been hiked today, October 7, for the fourth day in a row

October 8, 2021: Prices of petrol and diesel have been hiked today, October 7, for the fourth day in a row.



Petrol price has been raised by another 30 paise a litre and diesel by 35 paise a litre.



Since October 5, prices of petrol and diesel have been raised by Rs 1.15 a litre.



On October 5, petrol price was raised by 25 paise a litre, then on October 6 the hike was of 30 paise a litre. Yesterday, October 7, prices of petrol and diesel were hiked by 30 paise and 35 paise a litre respectively.



For diesel, the raise has been a rupee a litre since October 5. Diesel price was hiked by 30 paise a litre on October 5 and by 35 paise a litre on October 6.



The oil marketing companies had hiked the price of LPG cylinders by Rs 15 per cylinder on October 6.



Prices of petrol, diesel and LPG have been raised to reflect the soaring global crude prices.



Fuel prices are revised at 06:00 a.m. every day. Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of the petrol or diesel gets nearly doubled. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher.