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Fuel Prices Scale To New Highs After Latest Revision: Check Rates
The state-run oil marketing companies (OMCs) raised auto fuel prices on Friday after keeping them steady for a day. The price of petrol has been increased by 28-29 paise while diesel prices have been raised by 28-30 paise across Indian cities.
After the hike, petrol and diesel in the national capital is retailing at a price of Rs. 95.85 and Rs. 86.75 per litre, respectively.
Here are the petrol and diesel rates in other 3 metros:
| City | Petrol price per litre | Diesel price per litre |
|---|---|---|
| Mumbai | Rs. 102.04 | Rs. 94.15 |
| Chennai | Rs. 97.19 | Rs. 91.42 |
| Kolkata | Rs. 95.8 | Rs. 89.6 |
Since May, petrol price has been hiked by up to Rs. 5.45 and that of diesel has gone higher by Rs. 6.3 per litre. On a YTD basis, the price of petrol and diesel has increased by Rs. 12 and Rs. 13 per litre, respectively.
Since June 2017, state run oil marketing companies are following dynamic pricing model as per which fuel rates are revised daily at 6 am.
Meanwhile, as per the Reuters report, oil prices in the global market climbed to their highest price in more than 2 years on Thursday given the optimism around strong demand for the commodity after the new US unemployment claims dropped to their lowest since the first Covid 19 pandemic wave. Brent crude futures however fell today by 23 cents to $72.29 per barrel at 0145 GMT.
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