Petrol and diesel prices have been increased again on Tuesday. While petrol has become expensive by 25-26 paise per litre, diesel price has been raised by 23-24 paise for a litre on June 1.
Auto fuel in India has been on a steep hike since May 4. After the latest revision, a litre of petrol costs Rs 94.49. In Mumbai, petrol has been hovering above Rs 100-for-a-litre mark since May 29. A litre of petrol is being sold at whopping Rs 100.72 in the financial capital. In Chennai, you have to pay Rs 95.99 for a litre of auto fuel. The retail price of petrol has jumped to Rs 94.50 in Kolkata.
Diesel too has touched all-time high across the country. A litre of diesel is retailing at Rs 85.38 in Delhi. The auto fuel price has risen to Rs 92.69 in Mumbai. For buying a litre of diesel, you have to pay Rs 90.12 in Chennai and Rs 88.23 in Kolkata. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country.
The state-run oil marketing companies — Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum revise the petrol and diesel prices daily. The auto fuel prices in India depend on various factors such global crude oil prices and the foreign exchange rates.
Oil prices rose on Tuesday ahead of an OPEC+ meeting and on optimism that fuel demand will grow in the months ahead. Brent crude futures for August gained 56 cents, or 0.8%, to $69.88 a barrel by 0125 GMT. US West Texas Intermediate crude for July was at $67.33 a barrel, up $1.01, or 1.5% from Friday’s close, according to Reuters.
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