Petrol and diesel prices: Petrol price breached the Rs 100 per litre mark in New Delhi and Kolkata and currently stands at Rs 100.21 and Rs 100.23 respectively. Read below to find out fuel prices in your city.
Petrol and diesel price today: Petrol and diesel prices were hiked on Wednesday, July 7, 2021, after a gap of one day, touching fresh record highs across the country. In the national capital, the petrol price breached the Rs 100 per litre mark after it rose 35 paise, while diesel inched up 17 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 100.21 a litre while diesel is selling at Rs 89.53. In the financial capital Mumbai, petrol price now stands at Rs 106.25 while diesel costs Rs 97.09, data available on Indian Oil Corporation’s website showed.
This marks the fourth increase in petrol prices this month, while diesel rates have been hiked twice so far in July. In June, both petrol and diesel prices were hiked 16 times which followed the 16 hikes during May. Prices have been on the rise since May 4 after oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in five key states. During this period, petrol price has increased by Rs 9.81 per litre and diesel has climbed by Rs 8.80 in New Delhi.
Following the recent hikes since May 4, the price of petrol has crossed the Rs 100-per-litre mark in at least 16 states and union territories including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Ladakh, Karnataka, Jammu and Kashmir (J&K), Odisha, Tamil Nadu, Bihar, Kerala, Punjab, Sikkim, Delhi and West Bengal.
Bhopal became the first state capital to have petrol hit the three-figure mark in May, followed by Jaipur and Mumbai. In June, Hyderabad and Bengaluru had also joined them followed by Patna and Thiruvananthapuram. Earlier this month, Chennai too joined this list and today Delhi and Kolkata hit the psychological landmark with petrol retailing at Rs 100.21 and Rs 100.23 respectively.
Petrol and diesel rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 111.50 a litre. Diesel here touched the three-figure mark in June and currently is retailing at Rs 102.78 per litre, the Indian Oil data showed. In Madhya Pradesh’s Anuppur district, petrol today is priced at Rs 111.10 a litre and diesel at Rs 100.69.
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 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.
Internationally, crude oil prices steadied on Wednesday after a steep drop in the previous session, following the cancellation of talks among OPEC+ producers that raised the prospect that the world’s major crude exporters will turn on the taps to gain market share, news agency Reuters reported earlier in the day.
Brent crude was up 3 cents at $74.56 a barrel by 0115 GMT, after slumping more than 3 per cent on Tuesday. US oil was up 7 cents at $73.44 a barrel, having declined by more than 2 per cent in the previous session, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Wednesday, July 7, 2021:
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