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Petrol, diesel prices reach all-time high after 5th straight hike | Check the latest rates here

Oct 31,2021

Petrol, diesel prices reach all-time high after 5th straight hike | Check the latest rates here

Updated: Sun, 31 Oct 2021 08:34 AM IST

New Delhi | Jagran Business Desk: Petrol and diesel prices reached an all-time high in India on Sunday after the rates were hiked by the oil marketing companies (OMCs) for the fifth consecutive day due to the highly volatile situation in the international market. For Sunday, both petrol and diesel prices were hiked by 35 paise by the OMCs.

With the latest hike, a litre of petrol and diesel will cost Rs 109.34 and Rs 98.07 in Delhi respectively. Similarly, in the financial capital of Mumbai, petrol is priced at Rs 115.15 while diesel is at Rs 106.23.

In Chennai, petrol will now cost you Rs 106.04 while you will have to pay Rs 102.25 for diesel. In Kolkata, people would need to pay Rs 109.79 and Rs 101.19 for a litre of petrol and diesel respectively.

Meanwhile, in Bengaluru, petrol and diesel are available for Rs 113.15 and Rs 104.09 respectively. On the other hand, a litre of petrol is priced at Rs 113.72 while diesel is at Rs 106.98 in Hyderabad. In Rajasthan's Ganganagar, petrol and diesel are at Rs 121.62 and Rs 112.52 simultaneously.

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Petrol and diesel prices, which differ from state to state depending on the incidence of value-added tax, are rising in India ever since the Organisation of the Petroleum Exporting Countries (OPEC) decided against increasing the output of benchmark Brent crude.

Experts have suggested that there is no possibility of immediate relief in prices. However, Union Petroleum Minister Hardeep Singh Puri on Friday said that the Centre will use whatever "margin of persuasion" it has while talking to oil-producing nations to make sure the fuel prices are down in India.

"As a minister, the government is very sensitive to prices. And I can tell you, with total confidence, that we will use whatever margin of persuasion we have, bilaterally with my counterparts, or multilaterally or plurilaterally, to make sure the prices are down," he said at an event organised by the Indian Navy, as reported by news agency PTI.