Fuel prices touch fresh record highs; After petrol, diesel nears Rs 100/litre mark in Rajasthan

Petrol and diesel prices: The price of petrol in Delhi currently stands at Rs 95.56 per litre while diesel is now selling at Rs 86.47. In Mumbai, petrol costs Rs 101.76, while diesel is retailing at Rs 93.85. In Rajasthan, diesel is close to the Rs 100-mark at Rs 99.50. Read below to find out fuel prices in your city.

Petrol and diesel price today: After being steady for a day, prices of petrol and diesel were hiked again on Wednesday, June 9, 2021, touching fresh record highs across the country. In the national capital, the petrol price rose by 25 paise while that of diesel too inched up 25 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 95.56 a litre while diesel is selling at Rs 86.47. In the financial capital Mumbai, petrol price now stands at Rs 101.76 while diesel costs Rs 93.85, data available on Indian Oil Corporation’s website showed.

Fuel prices have been on the rise since the past month (May 4) after oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in key states. The prices were hiked 16 times in May and five times so far in June. During this period, petrol price has increased by Rs 5.16 per litre and diesel has climbed by Rs 5.74 in New Delhi.

Following the recent hikes since May 4, the price of petrol has crossed the Rs 100-per-litre mark in six states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.

Bhopal became the first state capital last month to have petrol hit the three-figure mark followed by Jaipur and Mumbai. Now, Hyderabad and Bengaluru are inching towards the psychological landmark.

Petrol and diesel rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 106.64 a litre while diesel neared the three-figure mark at Rs 99.50 per litre, the Indian Oil data showed. Madhya Pradesh’s Anuppur district, petrol today priced at Rs 106.29 a litre and diesel at Rs 97.44.

In India, the fuel prices differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.

OMCs 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.

In the global market, crude oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the US secretary of state said sanctions against Tehran were unlikely to be lifted, news agency Reuters reported.

Brent crude futures were up 37 cents (0.5 per cent) at $72.59 a barrel at 0520 GMT and earlier rose to $72.83, the highest since May 20, 2019. Brent rose 1 per cent on Tuesday. US West Texas Intermediate (WTI) crude futures jumped 39 cents (0.5 per cent) to $70.44 a barrel after rising to as high as $70.62, the most since Oct. 17, 2018. WTI prices climbed 1.2 per cent on Tuesday, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Wednesday, June 9, 2021:


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