Petrol Close to Rs 76 After Biggest Hike This Week, Diesel at All-Time High

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    Petrol and diesel prices were hiked again today for the sixth day this week. Petrol was up by 30 paise on an average (highest this week) on May 19 raising prices per litre of petrol to Rs 75.91 in Delhi, Rs 78.59 in Kolkata, Rs 83.75 in Mumbai and Rs 78.78 in Chennai.

    Petrol Close to Rs 76 After Biggest Hike This Week, Diesel at All-Time High
     
    City May 19 May 18 Difference
    Delhi 75.91 75.61 0.30
    Kolkata 78.59 78.29 0.30
    Mumbai 83.75 83.45 0.30
    Chennai 78.78 78.46 0.32

    Diesel price per litre is at its all-time high of Rs 67.31 in Delhi, Rs 69.86 in Kolkata, Ra 71.67 in Mumbai and Rs 71.04 in Chennai.

    City May 19 May 18 Difference
    Delhi 67.31 67.08 0.23
    Kolkata 69.86 69.63 0.23
    Mumbai 71.67 71.42 0.25
    Chennai 71.04 70.8 0.24

    Fuel prices have been on a steady rise since Monday to match cost margins after Karnataka pre-poll halt. Despite continuous rise in international crude oil prices, petrol and diesel were parked across India, 3 weeks ahead of Karnataka assembly polls on April 24. Petrol was at Rs 74.63 per litre, while Diesel was prices at Rs 65.93 per litre respectively in Delhi till May 13.

    A day after the polls, state-owned oil marketing companies returned to the daily revision practice on May 14, but they are estimated to have lost Rs 500 crore during the period. To recover this loss, fuel prices are expected to rise for the next few days.

    Oil prices in India are influenced by international fuel rates and the movement in dollar value, both are currently not in our favour.

    Petrol price per litre in state capitals on May 19:

    State Capital Price/ Litre (Rupees)
    Agartala 71.69
    Aizwal 71.81
    Ambala 76.03
    Bangalore 77.14
    Bhopal 81.49
    Bhubhaneswar 74.74
    Chandigarh 73.01
    Dehradun 77.36
    Gandhinagar 75.22
    Gangtok 78.95
    Guwahati 78.03
    Hyderabad 80.41
    Imphal 74
    Itanagar 71.83
    Jaipur 78.64
    Jammu 77.65
    Jullunder 81.15
    Kohima 74.38
    Lucknow 76.84
    Panjim 69.95
    Patna 81.4
    Pondicherry 74.72
    Port Blair 65.46
    Raipur 76.33
    Ranchi 76
    Shillong 75.3
    Shimla 76.09
    Srinagar 80.34
    Trivandrum 80.01
    Silvasa 73.85
    Daman 73.78

    Diesel price per litre in state capitals on May 19:

    State Capital Price/ Litre (Rupees)
    Agartala 65.43
    Aizwal 64.63
    Ambala 67.82
    Bangalore 68.47
    Bhopal 70.84
    Bhubhaneswar 72.15
    Chandigarh 65.36
    Dehradun 67.64
    Gandhinagar 72.34
    Gangtok 69.05
    Guwahati 70.25
    Hyderabad 73.16
    Imphal 65.39
    Itanagar 64.61
    Jaipur 71.7
    Jammu 68.48
    Jullunder 67.28
    Kohima 65.68
    Lucknow 67.46
    Panjim 68.5
    Patna 71.98
    Pondicherry 69.54
    Port Blair 63.11
    Raipur 72.68
    Ranchi 71.08
    Shillong 67.12
    Shimla 66.96
    Srinagar 70.7
    Trivandrum 73.06
    Silvasa 68.12
    Daman 68.06

    Globally, the international crude oil benchmark crossed $80 per barrel mark this week, its highest level since 2014. Reports suggest that it will reach $100 per barrel by the end of this year. US dollar strengthened against its counterparts as the American economy reported a growth in its economy this week.

     

    Meanwhile, an official statement said that Oil Minister Dharmendra Pradhan has been in talks with Saudi Arabia to keep the prices and crude oil supplies steady for the country amid shortfalls in supply faced globally.

    Outputs cuts made by Organization of the Petroleum Exporting Countries (OPEC), shrinking supplies from Venezuela and renewal of US-sanctions on Iran-the third-largest oil producer among OPEC has surged the international fuel prices.

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