Petrol and Diesel prices on Monday did not witness any change from yesterday. Oil Marketing Companies (OMCs) like Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices in line with benchmark international price and foreign exchange rates on a daily basis.
However, the petrol price in Delhi stands at Rs 97.22 per litre, while the price of diesel in the capital city is retailing at Rs 87.97 per litre on Monday. The rate remains the same as yesterday. Fuel prices have been hiked 27 times since May 4 and in Delhi, the price of petrol has increased by Rs 6.53, while the price of diesel has surged by Rs 6.92 per litre. Meanwhile, the fuel prices in Mumbai exhibited the highest rates across metro cities in the country. On Monday, the retail price for one litre of petrol stands at Rs 103.36 per litre. One litre of diesel retailed at Rs 95.44 per litre in the capital of Maharashtra.
In the capital of Tamil Nadu, petrol prices stand at Rs 98.40 per litre, while the price for Diesel stood at Rs 92.58 per litre. Kolkata retailed the petrol price for Rs 97.12 per litre on Monday. While the price for Diesel retailed at Rs 90.82 per litre.
The difference of prices in cities across the country is due to several factors like local taxes, transportation freight charges, VAT, GST among others. With the international prices of crude oil increasing, the fuel prices in India have crossed Rs 100 mark in seven states including Maharashtra, Telangana, Rajasthan, Karnataka, Andhra Pradesh, and Madhya Pradesh. The crude oil prices moved up considering the high demand expectations on Monday. According to Reuters, Brent crude traded at $73.81 per barrel as the NYMEX crude oil soared at $72.02 for one barrel.
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