Petrol, Diesel Prices Hiked Today After 18 Days

Petrol, Diesel Prices Hiked Today After 18 Days

After holding steady for 18 days, fuel retailers have increased petrol and diesel prices on Tuesday. While petrol price has been raised by 12-15 paise a litre, diesel has seen a steep jump of 15-18 paise per litre across the metro cities.

In the national capital, a litre of petrol is available at Rs 90.55, up by 15 paise. In Mumbai, petrol is being retailed at Rs 96.95 per litre. Chennai also witnesses a jump of 12 paise in petrol price on Tuesday. A litre of petrol is being priced at Rs 92.55. In Kolkata, petrol is being sold at Rs 90.76 per litre.

The oil marketing companies has raised the price of diesel by 18 paise per litle in Delhi, highest among the metro cities. After the hike, diesel is available Rs 80.91 in the capital. A litre of petrol costs Rs 87.98 in Mumbai, Rs 85.90 in Chennai and Rs 83.78 in Kolkata.

The fuel prices were last revised on April 15 — petrol fell by 16 paise per litre and diesel slipped by 14 paise in Delhi.

Petrol and diesel prices depend on various things — international crude prices and foreign exchange rates and demand for fuel. Fuel prices in India are revised on a daily basis. Auto fuel prices vary from state to state as they include several taxes levied by the central and state governments. The prices consist excise duty, value added tax (VAT), and dealer commission.

Oil prices added to overnight gains on Tuesday as more US states eased lockdowns and the European Union sought to attract more travellers, which would help offset weakened fuel demand in India as COVID-19 cases soar.

Brent crude futures rose 14 cents, or 0.2%, to $67.70 a barrel at 0150 GMT, after climbing 1.2% on Monday, Reuters reported. US West Texas Intermediate (WTI) crude futures also rose 14 cents, or 0.2%, to $64.63 a barrel, after gaining 1.4% on Monday, according to news agency.