PremiumPetrol and diesel prices were hiked for the eleventh time on Friday after a two day hiatus, according to a price notification by state-owned fuel retailers.
While petrol rates increased by 19 paise to reach ₹93.04 per litre in Delhi, diesel rates jumped to ₹83.80 per litre after the addition of 29 paise.
Premium Premium Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country at ₹104 per litre and ₹96.62 a litre respectively.
The hike comes in spite of fuel demands suffering in the first half of May due to Covid-induced lockdown in several states.
Sales of road transport fuels during 1 to 15 May dropped by a fifth from the previous month and about 28% from the same period in 2019, reported Bloomberg.
The plunge in consumption at the world’s third-biggest crude consumer was expected to weigh on sentiment on oil prices and damp expectations for a strong global demand rebound in the summer.
The International Energy Agency has lowered its 2021 global oil demand forecast from the impact of the raging virus outbreak in India, while OPEC and its allies are already taking a cautious view.
Here are the latest rates in your city:
Mumbai: Petrol prices – ₹99.32 per litre; diesel prices – ₹91.01 per litre
Kolkata: Petrol prices – ₹93.11 per litre; diesel prices – ₹86.64 per litre
Chennai: Petrol prices – ₹94.71 per litre; diesel prices – ₹88.62 per litre
Bengaluru: Petrol prices – ₹96.14 per litre; diesel prices – ₹88.84 per litre
Hyderabad: Petrol prices – ₹96.70 per litre; diesel prices – ₹91.36 per litre
Thiruvananthapuram: Petrol prices – ₹95.27 per litre; diesel prices – ₹89.77 per litre
Jaipur: Petrol prices – ₹100.20 per litre; diesel prices – ₹93.13 per litre
Patna: Petrol prices – ₹95.41 per litre; diesel prices – ₹89.21 per litre
Chandigarh: Petrol prices – ₹89.50 per litre; diesel prices – ₹83.46 per litre
Rates had already crossed the ₹100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra. Bhopal was the first state capital where the fuel cost over ₹100. It has been followed by Jaipur.
With the latest increase, prices in Mumbai are inching closer to the mark too.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.
Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel. The union government levies ₹32.90 per litre of excise duty on petrol and ₹31.80 on diesel.
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