Fuel Price Hike: Petrol in Delhi crosses Rs 100-mark, diesel nears Rs 90-mark; check rate in your city here
New Delhi | Jagran Business Desk: Amid the uproar over the rising fuel rates, petrol prices in Delhi on Wednesday touched new heights and crossed the grim milestone of Rs 100-mark, while the diesel prices reached near Rs 90-mark after the petrol and diesel prices were hiked by 35 paise and 23 paise per litre respectively.
With the hike, Delhi also joined the club of metro cities where petrol is retailing over Rs 100-mark. Mumbai, Chennai, Hyderabad and Pune already have prices above Rs 100. Meanwhile, Kolkata also saw petrol prices climbing over Rs 100 per litre on Wednesday.
The hike came a day after Oil marketing companies kept the retail price of petrol and diesel unchanged on Tuesday to analyse the global oil price movement before making further revisions. The fuel rates have reached new highs across the country through numerous increases in the last two months.
Check fuel rates in your city here:
|Source: Indian Oil|
Starting from a price line of Rs 90.40 a litre on May 1, petrol is now priced at Rs 99.86 a litre in the national capital, rising by a sharp Rs 9.46 per litre in the last 67 days. Similarly, diesel prices in the capital also rose by Rs 8.63 per litre in the past two months to reach Rs 89.36 a litre in Delhi. The Tuesday's price pause came after rates have been revised upwards in 32 out of 61 days between May and June to take the retail rates to touch new highs across the country.
Officials in oil companies put the consistent increase in fuel prices to the development in global oil markets where both product and crude prices have been firming up for the past couple of months on demand rise amidst the slowing of the pandemic. However, a closer look at the fuel retail prices in India gives a picture that it is the high level of taxes that are keeping fuel rates higher even in times when global oil prices are firm.
The state-run oil marketing companies - Bharat Petroleum, Indian Oil, and Hindustan Petroleum align the rates of domestic fuel with that of the global crude oil prices by taking into account any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Posted By: Talibuddin Khan