No respite, petrol, diesel prices continue to surge

Petrol, Diesel Price Today: After a day of brief pause, petrol and diesel prices were hiked once again by 29 to 31 paise on Monday, taking fuel prices across the country to a historic high.

According to Indian Oil Corporation's latest data, the petrol prices in Delhi were hiked from Rs 96.12 per litre to ₹ 96.41 per litre and diesel prices were increased from Rs 86.98 per litre to ₹ 87.28 per litre.

The revised prices of petrol and diesel in Mumbai stood at Rs 102.58 per litre and ₹ 94.70 per litre.

Mumbai on 29 May became the first metro in the country where petrol was being sold at over ₹100 a litre.

Diesel prices have been pushed beyond Rs 100 per litre mark in Shriganganagar of Rajasthan. Petrol is now above Rs 100 per litre mark in six states and union territories - Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Hyderabad, UP, Punjab, Haryana, Pune

-Chennai: Petrol prices – Rs 97.69 per litre; Diesel prices – Rs 91.92 per litre

-Kolkata: Petrol prices – Rs 96.34 per litre; Diesel prices – Rs 90.12 per litre

-Pune: Petrol prices – Rs 102.18 per litre; Diesel prices – Rs 92.86 per litre

-Bengaluru: Petrol prices – Rs 99.063 per litre; Diesel prices – Rs 92.52 per litre

-Hyderabad: Petrol prices – Rs 100.20 per litre; Diesel prices – Rs 95.14 per litre

-Noida (UP): Petrol prices – 93.74 per litre; Diesel prices – Rs 87.76 per litre

-Mohali (Punjab): Petrol prices – Rs 98.53 per litre; Diesel prices – 90.20 per litre

-Chandigarh: Petrol prices Rs 92.73 per litre; Diesel prices – Rs 86.92 per litre

-Gurugram (Haryana): Petrol prices – Rs 94.19 per litre; Diesel prices – Rs 87.87 per litre

Fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax or VAT and freight charges. The excise tax levied by the Central and state government one of the reasons behind the fuel price hike.

The state-run oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with that of the global crude oil prices by taking into account any changes in foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

Meanwhile, oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.

Brent crude was up 14 cents, or 0.2 per cent, at $72.83 and U.S West Texas Intermediate was also up 14 cents, or 0.2 per cent, at $71.05 a barrel, reaching the highest since October 2018.