Petrol and diesel prices across the nation have seen a spike once more on Saturday. As fuel rates touch an all-time high in India, petrol rates have crossed the Rs 100-a-litre mark in four metro cities – Mumbai, Delhi, Kolkata and Chennai. Other cities joining the triple-digit rank are Bangalore, Jaipur, Hyderabad, Pune and Gurgaon. Bhopal and Jaipur have the highest fuel rates of any of the mentioned cities. State-run oil companies have pushed the price of petrol upwards once more by 30 to 30 paise on July 10.
Mumbai’s petrol is retailing at Rs 106.93 per litre. In Delhi, the fuel rate is currently Rs 100.91 per litre. In Chennai, the pump rate is Rs 101.67 per litre of petrol. Kolkata has witnessed a rise in petrol prices, which stands at Rs 101.01 per litre. The start-up hub, Bangalore, has a petrol retail rate of 104.29 per litre. As it stands the going rate for petrol in Bhopal is Rs 109.24 per litre. In Jaipur and Hyderabad, the going rate today is Rs 107.74 per litre and Rs 104.86 per litre of petrol respectively. Motorists will have to shell out Rs 106.50 per litre of petrol in the city of Pune. In Gurgaon the price stands at Rs 98.56 per litre of petrol
Diesel prices are not doing any better in terms of holding onto the double-digit mark as more and more cities are inching towards the Rs 100-a-litre mark. The price of diesel has been pushed up in the metros by 24 to 32 paise, whereas the hike on July 8, had seen the price go up by 9 to 15 paise. The diesel price in the city of Mumbai currently stands at Rs 97.46 per litre. In the capital, Delhi, diesel is going for Rs 89.88 per litre of fuel. Chennai’s spike in prices has left the tally at Rs 94.39 per litre. In Bangalore and Kolkata, the price of diesel is Rs 95.26 per litre and Rs 92.97 per litre. Coming to outside of the metros, Jaipur’s diesel price stands as one of the highest at Rs 99.02 per litre. Bhopal is a close second carrying a rate of Rs 98.67 per litre. Hyderabad has witnessed a hike that has left its diesel price nearing Rs 100-a-litre as well. The price as it stands is Rs 97.96 per litre of diesel. In Pune and Gurgaon, the price of diesel is currently Rs 95.55 per litre and Rs 90.47 per litre respectively.
The ever-increasing fuel prices have seen a rapid upward trend since May of 2021. These fuel prices can be attributed to the high levels of State and Central government-imposed taxation. Value Added Tax (VAT) plays a key role in the massive prices that the nation has recently seen. On the other side of the coin, international crude oil prices and the Dollar-to-Rupee conversion rates also play a part in the final retailing price of fuel at the domestic level. Other charges, such as excise duty, port duty, transportation and logistics as well as the price tag charged by state-run oil companies all then add to it.
International crude oil prices went up for a second day on Friday as the market reacted to falling US inventories. This coupled with signs of strong demand from both China and India added to the issue, according to a Reuters report. Brent crude oil futures were up by $1.43, 1.93%, at $75.55. US West Texas Intermediate futures were up by $1.62, or 2.2%, at $74.56 said the report.
Check petrol and diesel prices in the below table:
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