Petrol price crosses Rs 91-mark; cooking gas above Rs 500

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In the country's financial capital, petrol costs ₹91.08 per litre, up from ₹90.84 on Sunday, September 30, data on the Indian Oil Corporation website showed.

As a result of higher global rates, the price of non-subsidised LPG at Delhi will increase by Rs 55.50 per cylinder.

LPG cylinder gets costlier: Price hiked by Rs 2.71 to Rs 502.40; non-subsidised rate raised by Rs 59
Fuel price hike: Petrol prices cross Rs 91 per liter in Mumbai

In the statement where Indian Oil Corporation (IOC) informed of the new applicable rates, it said that the increase in prices was on account on increase in worldwide prices and foreign exchange valuations. In Patna, the price of petrol is close to touching the psychological mark of ₹90 per litre, retailing at ₹89.87 on Monday.

The price of petrol, diesel and LPG continued to soar on Monday with petrol rates breaching the Rs 91 mark in Mumbai.

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India is the third largest importer of crude oil and rising worldwide oil prices are inflating domestic transport fuel costs in a strong demand environment.

Today's rise in fuel prices comes after state owned oil marketing companies (OMCs) had increased the price of sensitive petroleum products like petrol and diesel on Sunday. The government, however, subsidizes 12 cylinders of 14.2-kg each per households in a year by providing the subsidy amount directly in bank accounts of users.

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All consumers have to buy cooking gas LPG at market price.

Oil firms revise LPG price on 1st of every month based on average benchmark rate and foreign exchange rate in the previous month. They also said that LPG should come under Goods and Services Tax (GST).

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The actual impact on subsidised domestic LPG customers is only Rs 2.89 per cylinder, which is mainly due to GST on the above, International Olympic Committee added.

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