Hike In Fuel Prices; Petrol Is Now 34% More Expensive Than ATF

Following a rise in global crude oil prices, petrol and diesel prices soared to new all-time highs today. According to oil marketing organizations, petrol and diesel prices in Delhi increased by 35 paise to 106.19 and 94.92 per litre, respectively.

Petrol is currently 34% more expensive than aircraft turbine fuel (ATF or jet fuel), which is sold to airlines. ATF costs 79,020.16 per kilolitre in Delhi or about 79 per litre. Fuel prices in Mumbai followed a similar pattern. The retail price of petrol increased by 34 paise to Rs 112.11 a litre. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre.

In Maharashtra's capital, the price of diesel increased by 37 paise to Rs 102.89 a litre.

Fuel prices rose in Kolkata as well, with a litre of petrol costing Rs 106.77 and a litre of diesel costing Rs 98.03, respectively.

State-run oil refineries such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum adjust fuel prices on a daily basis, taking into account international crude oil prices and rupee-dollar exchange rates. Every day at 6 a.m., any adjustments in gasoline and diesel prices take effect.

Depending on the impact of local taxes, the price of gasoline and diesel varies from state to state.

With the recent increase, petrol prices have surpassed Rs 100 per litre in all state capitals, while diesel prices have surpassed Rs 100 in more than a dozen states. In Bengaluru, Daman, and Silvassa, diesel prices surpassed Rs 100 per litre.