Fuel prices hiked after a day’s gap; petrol rate nears Rs 103-mark in Mumbai

FPJ Web DeskUpdated: Wednesday, June 16, 2021, 09:01 AM IST
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Petrol and diesel prices in the country were hiked again by oil marketing companies (OMCs) on Wednesday after a day’s gap. The hike - 25th since May 4 - took fuel prices across the country to a historic high.

Petrol price was hiked by 25 paise per litre and diesel by 13 paise, according to a price notification of state-owned fuel retailers.

In Delhi, petrol hit an all-time high of Rs 96.66 a litre, while diesel is now priced at Rs 87.41 per litre. Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.

In Mumbai, the price of petrol and diesel stood at Rs 102.82 and Rs 94.84 per litre respectively.

The price of petrol and diesel in Chennai was Rs 97.91 and Rs 92.04 per litre respectively and Rs 96.58 and Rs 90.25 per litre in Kolkata.

The hike on Wednesday was the 25th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal. In 25 increases, petrol price has risen by Rs 6.26 per litre and diesel by Rs 6.68 a litre.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates. International oil prices have firmed in recent weeks in anticipation of demand recovery following the rollout of vaccination programme by various countries.

(With inputs from Agencies)

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