On Thursday, oil marketing firms raised the price of petrol and diesel for the second day in a row. Petrol costs Rs 106.54 a litre in Delhi today, up 35 paise from yesterday, while diesel costs Rs 95.27 per litre, also up 35 paise. The fuel prices are revised daily by Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) in accordance with benchmark worldwide prices and foreign exchange rates.

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Mumbai’s petrol price remains the highest among metro cities, at Rs 112.44 a litre. Diesel costs Rs 103.26 per litre in the country’s financial centre. The pricing difference between Delhi and Mumbai is due to varying local VAT rates in each city. The costs of petrol and diesel are determined by freight expenses, municipal taxes, and VAT. Petrol prices have surpassed Rs 100 per litre in Delhi, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu & Kashmir, Odisha, Tamil Nadu, Ladakh, and certain Bihar and Punjab cities.

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This is the 18th hike in petrol prices and the 20th increase in diesel rates since the conclusion of a three-week pause in rate adjustment in the last week of September, reported moneycontrol.

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State-owned fuel retailers have begun passing on the higher incidence of cost to customers beginning October 6, abandoning the moderate price rise strategy.

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Crude oil prices rose further on Thursday morning as investors continued to assess the global demand-supply mismatch. Brent crude futures were trading at $85.99 a barrel, according to Reuters. West Texas Intermediate futures in the United States were trading at $83.79 a barrel.