Despite assertions that fuel rates may not be hiked this month and OMCs may keep an eye on the international crude rates, fuel rates in the country are being hiked regularly. On Monday (July 12, 2021), petrol rates have again been hiked, while diesel rates have been cut. In this year itself, petrol prices saw an hike by 15%.
After the latest hike, petrol rates in all of the metros have surpassed Rs. 101 mark per litre.
|Metro city||Petrol rate in Rs. / litre||Diesel rate in Rs. / litre|
|New Delhi||Rs. 101.19||Rs. 89.72|
|Mumbai||Rs. 107.20||Rs. 97.29|
|Kolkata||Rs. 101.35||Rs. 92.81|
|Chennai||Rs. 101.92||Rs. 94.24|
International crude rate
On rising US inventory, crude prices in the international markets are on the rise. As per Investing.com crude oil WTI futures traded at a price of $74.49. Last week there was a clash in the talks within the OPEC+ with respect to output levels from August.