The oil marketing companies (OMCs) increased petrol and diesel prices for the third consecutive day on Friday. While petrol rates were hiked by up to 35 paise, diesel prices were raised by up to 37 paise.
Accordingly, the price of petrol and diesel were raised to Rs 106.89 and Rs 95.62 per litre respectively in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer.
Petrol now costs 35.3 percent more than the price at which aviation turbine fuel (ATF or jet fuel) is sold to airlines. ATF in Delhi costs Rs 79,020.16 per kilo litre or roughly Rs 79 per litre.
In Mumbai, the petrol price was hiked to Rs 112.78 per litre on Friday. The cost of diesel was increased to Rs 103.63 a litre. In Chennai, a litre of petrol was hiked to Rs 103.92. The price of a litre of diesel was Rs 99.92 per litre.
Petrol in Kolkata costs Rs 107.44 per litre, while diesel costs Rs 98.73 a litre.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
On the global front, oil prices resumed their climb on Friday on continued tightness in US supply but were headed for a flat finish on the week as coal and gas prices eased, curbing fuel-switching which had stoked demand for oil products for power.
US West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.2 percent, to $82.70 a barrel at 0148 GMT, reversing part of Thursday's 92 cent loss, according to news agency Reuters.
(Edited by : Anshul)
First Published: Oct 22, 2021 7:55 AM IST
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