Public sector oil companies set domestic petrol and diesel prices on a daily basis in line with international market conditions. In Tamil Nadu, on November 3, 2021, a liter of petrol sold for Rs 106.66 and diesel for Rs 102.59. This was the highest selling price of petrol and diesel.
On that day, the central government reduced the excise duty on petrol and diesel. As a result, on November 4, petrol prices were reduced by Rs 5 per liter and diesel by Rs 10 per liter. On that day in Tamil Nadu a liter of petrol was 101.40 rupees; Diesel also sold for Rs 91.43 per liter. After that, petrol and diesel prices remained unchanged due to assembly elections in five states, including UP. Following the election in these states, crude oil prices rose in the international market due to the ongoing war between Russia and Ukraine.
Thus, after 137 days in the country, on the 22nd of this month, petrol and diesel prices were raised. Their price continues to rise. In Tamil Nadu, a liter of petrol was Rs. 105.94 yesterday; Diesel also sold for 96 rupees. Yesterday, petrol rose by 75 paise to Rs 106.69 per liter. This is the highest price on petrol. Diesel rose by 76 paise to Rs 96.76 per liter.