Grateful Mean

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Petrol and diesel prices have been on a northward rally for over a month across the country. After touching record highs in several states and Union Territories on Friday, June 18, both auto fuel prices remained unchanged on Saturday, June 19. According to price notification by the oil retailers, yesterday the price of petrol saw a hike by 26-27 paise while diesel rates increased by 28-30 paise.

Following a pause in price revision, petrol in Delhi is now retailing at Rs 96.93 a litre while diesel is selling at Rs 87.69 per litre. The prices of both auto fuels remained unchanged in the national capital.

However, in the financial capital of the country, petrol crossed Rs 103 mark. Mumbai on May 29 became the first metro in the country where petrol retailed at over Rs 100 a litre. Petrol in Mumbai now retails at Rs 103.8 for a litre, while diesel at Rs 95.14 per litre.

The states and UTs where petrol has breached the psychological Rs. 100 per litre, include Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka and Ladakh.

Hyderabad became the second metro city where petrol breached Rs 100 per litre mark. After yesterday’s revision, a litre of petrol is sold at Rs 100.74 per litre, while diesel at Rs 95.59 per litre. In addition, Bengaluru also joined the list where the petrol had crossed Rs 100-a-litre mark. In the capital city of Karnataka, customers have to shell out Rs 100.17 for a litre of petrol, and for diesel, they have to pay Rs 92.97 for a litre.

Meanwhile, petrol prices reached above Rs 107 and diesel has crossed the Rs 100 mark in Rewa in Madhya Pradesh.

On the global front, Brent was down by 0.66 percent, trading at USD 72.60 per barrel, similarly the West Texas Intermediate (WTI) fell by 0.49 percent and was trading at USD 70.69 per barrel, reported.

Fuel rates vary from state to state depending on the incidence of value-added tax (VAT). The price of both key fuels in India depends on international crude oil prices, rupee-dollar exchange rate. OMCs like the Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum Corporation Limited revise the rates daily.