Petrol, diesel prices remain unchanged after two consecutive days of hike

FPJ Web DeskUpdated: Tuesday, June 08, 2021, 09:03 AM IST
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Petrol and diesel prices in the country remained unchanged on Tuesday after two consecutive days of hike.

Accordingly, the pump prices of petrol and diesel remained at Rs 95.31 and Rs 86.22 per litre respectively in Delhi on Tuesday.

In Mumbai, the price of petrol was held unchanged at an all-time high of Rs 101.52 per litre. Diesel price also continues to be at Rs 93.58 a litre, the highest among metros.

In Chennai, petrol is priced at Rs 96.71 per litre while the price of diesel is Rs 90.92 per litre. The price of petrol in Kolkata is Rs 95.28 per litre while diesel is sold at Rs 89.07 per litre.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.

Retail prices have risen after an increase in international oil prices on investors' optimism that improving demand and a dwindling supply glut may mean the market can absorb any additional production from OPEC and its allies. Brent crude, the global oil price benchmark, is nearing USD 72 per barrel for the first time in two years.

The hike on Monday was the 21st 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 21 increases, petrol price has risen by Rs 4.96 per litre and diesel by Rs 5.56 a litre.

(With inputs from Agencies)

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