Fuel rates in the country are static for the thirteenth straight day and now petrol in most of the cities cost over Rs. 100 per litre. After the elections in some of the states concluded fuel rates were on a continuous rise since May 4, 2021.
In the international markets, WTI benchmark of crude oil is lower by 0.54% at $73.22 per barrel. Another benchmark brent crude futures also was dragged down by 0.5% to $75.65 per barrel on improving demand prospects for the commodity at one and also increasing vaccinations offset any condition of resurgence in coronavirus cases globally.
Notably since, June 2017, in India fuel rates are being following dynamic pricing model wherein prices are revised everyday at 6 am based on the international rates in the previous fortnight as well as international exchange rate.